NOTICIAS

Walker & Dunlop Arranges $137 Million Financing for Downtown Boston Community

Walker & Dunlop Inc

BETHESDA, Md.-Walker & Dunlop, Inc. announced today that it has financed $137,288,000 for LUKA on the Common, a 398-unit, 30-story trophy asset located in the heart of Downtown Boston.

In July, the Walker & Dunlop Boston Investment Sales team, under the leadership of Managing Directors Travis D’Amato and Michael Coyne, facilitated the sale of the property on behalf of the client, AvalonBay Communities, and the buyer, Carmel Partners. Concurrently, the Walker & Dunlop Multifamily Finance team, led by Jeff Burns, secured $137 million in acquisition financing for Carmel Partners. They identified Fannie Mae as the lender and structured it as a five-year, full interest-only loan with an early-rate lock.

“Boston’s multifamily fundamentals are among the strongest in the nation, driven by limited existing and future supply. It has a dynamic office and lab market as well that is bolstered by employment growth in life sciences and healthcare,” said Jeff Burns, senior managing director of Multifamily Finance at Walker & Dunlop. “The housing scarcity has impacted both rent growth and the for-sale condominium market and has enabled us to refinance successfully alongside the team at Carmel.”

Previously known as the AVA Theater District, the property was rebranded as LUKA on the Common and stands 30 stories tall on a 21,344-square-foot site in the Boston Common multifamily market. The transaction was the highest price paid for an apartment complex in the market in over a year.

LUKA on the Common, centrally situated in Boston, provides residents with an unmatched urban living experience. Its prime location offers convenient access to the city’s bustling employment hubs, top-tier education and healthcare facilities, public transportation, and green spaces. With the highest possible walk and transit score of 100—LUKA on the Common truly exemplifies the best of city living.

“LUKA on the Common is an exceptional asset and has an enviable location,” said Lee Bloch, partner at Carmel Partners. “We want to extend our gratitude to the teams at Walker & Dunlop for their support and expertise throughout this process.”

Walker & Dunlop is a leader in multifamily property sales, having completed over $51 billion in property sales volume since 2021. Walker & Dunlop is also one of the top providers of capital to the U.S. multifamily market; in 2023 the firm originated over $24 billion in debt financing volume, including lending over $20 billion for multifamily properties. To learn more about our capabilities and financing options, visit our website.

About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States. Our ideas and capital create communities where people live, work, shop, and play. The diversity of our people, breadth of our brand and technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.

Contacts

Investors:
Kelsey Duffey
Investor Relations
Phone 301.202.3207
investorrelations@walkeranddunlop.com

Media:
Nina H. von Waldegg
VP, Public Relations
Phone 301.564.3291
info@walkeranddunlop.com

Phone 301.215.5500
7272 Wisconsin Avenue, Suite 1300
Bethesda, Maryland 20814

dprimeramano

dprimeramano

About Author

Leave a Reply

Your email address will not be published. Required fields are marked *

NOSOTROS

D’primeramano es una de las mejores revistas hispanas de alcance local. Principalmente enfatiza la publicidad, sin dejar de lado artículos e información que sean relevantes principalmente para la comunidad hispana de la región. Por eso, además de anuncios, siempre dedica espacios a secciones de interés general como inmigración, derecho, música, cine, televisión, chistes, entretenimiento, cocina, curiosidades, aniversarios, conmemoraciones, deportes y otros. El objetivo es que los hispanos reciban información confiable, actualizada e interesante en su idioma. D’de primera mano y que puedan beneficiarse de las ofertas de productos y servicios que hay en su comunidad o muy cerca de ellos.

Suscribirse al boletín informativo

Email Subscription Form

Contacta con nosotros

Copyright © Todas las marcas son propiedad de la respectiva empresa o de BORGES MEDIA INC. Queda prohibida la reproducción total o parcial de cualquiera de los contenidos que aquí aparecen, así como su traducción a cualquier idioma sin autorización escrita de su propietario, la mejor revista de sacramento