Walker & Dunlop Arranges $29.6 Million in LIHTC Equity for Canyon Creek East
25 Giugno 2024 - 12:00AM
Business Wire
Walker & Dunlop, Inc. announced today that it successfully
arranged $29.6 million in federal Low-Income Housing Tax Credit
(LIHTC) equity for the financing of Canyon Creek East, a
groundbreaking affordable housing project in Lenexa, Kansas.
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Canyon Creek East (Photo: Business
Wire)
Canyon Creek East, envisioned as an expansion of the spectrum of
residential housing available in Lenexa, will encompass the
construction of 212 multifamily units across five buildings. Upon
completion, the development will offer a mix of one-, two-, and
three-bedroom units to accommodate diverse household sizes.
The Walker & Dunlop Affordable Equity team, led by Jennifer
Erixon, arranged the federal LIHTC equity, which will finance
approximately 40% of the total development costs, on behalf of MRE
Capital. This project marks Walker & Dunlop’s sixth transaction
with MRE.
“This financing represents a significant milestone in our
mission to foster inclusive and sustainable communities," said
Jennifer Erixon, senior managing director of originations at Walker
& Dunlop. "Canyon Creek East exemplifies our commitment to
providing affordable housing solutions that enhance the quality of
life for residents and contribute to the economic vitality of the
region.”
Canyon Creek East is part of the broader Cedar Canyon West
development plan, which encompasses a mix of residential,
commercial, and recreational facilities. MRE’s development will
provide affordable housing options to the community with units
targeting households earning between 30% and 80% of the area median
income (AMI). Furthermore, its location, proximate to major
employers in the region, including the soon-to-be-completed
Panasonic manufacturing facility and an acclaimed school district
provides residents easy access to employment centers and
education.
“With LIHTC projects in the market boasting full occupancy and
waitlists, Canyon Creek East is poised to address the growing
demand for affordable housing options while contributing to the
overall prosperity and well-being of the residents of Lenexa and
surrounding areas,” said Daniel Sailler of MRE Capital. “We are
glad to be working with the experts at Walker & Dunlop yet
again to secure this impactful financing.”
Walker & Dunlop’s Affordable Equity team (formerly Alliant
Capital) is part of Walker & Dunlop’s broader affordable
housing platform and is one of the nation's largest LIHTC
syndicators. Today, the Affordable Equity team’s portfolio exceeds
$14 billion in assets under management and has provided housing for
over 400,000 low-income families, seniors, and veterans. Walker
& Dunlop’s market-leading affordable housing platform addresses
the financing, sale, and preservation of affordable housing
nationwide. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240624325617/en/
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
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