Walker & Dunlop Arranges $106 Million Financing for Second Phase of D.C. Luxury Apartments by WC Smith
Walker & Dunlop multifamily finance, led by Brendan Coleman and Connor Locke, arranged the financing on behalf of the longtime W&D client and Fannie Mae priority borrower, WC Smith. The team secured a rate lock within 24 hours of the signed application, providing a 35-year amortization and 10 years of full-term interest-only payments to ensure a favorable outcome for WC Smith.
WC Smith developed Agora as the second phase of The Collective, a premier 1,138-unit apartment community offering unmatched amenities in Washington, D.C.'s vibrant Capitol Riverfront neighborhood. Walker & Dunlop has also arranged financing for the other two phases of The Collective, Park Chelsea, a high-end 429-unit community and, The Garrett, which features 373 apartments and 5,000 square feet of co-working space.
"We are honored to work with our partners at WC Smith yet again, a company that has earned a stellar reputation over decades as a trusted multifamily investor, developer, and operator," said Connor Locke, managing director of Multifamily Finance at Walker & Dunlop. "Agora is a standout asset within their exceptional portfolio, and the swift rate lock, secured within 24 hours of the signed application, demonstrates our dedication to providing timely, customized solutions that ensure the best possible outcomes for our clients."
Agora is a luxury, 11-story, 334-unit LEED Silver-certified apartment building completed in 2018, located in Washington, D.C.'s vibrant Capitol Riverfront. Part of The Collective, residents enjoy shared access to high-end amenities across the three properties, including a Whole Foods, fitness center, spa rooms, and indoor golf simulator. Steps from Nationals Park, Audi Field, and the Navy Yard, Agora sits in a 500-acre neighborhood recognized by Forbes as one of the world's 'Top 12 Coolest Neighborhoods' for its parks, dining, and strong sense of community.
Walker & Dunlop is one of the top providers of capital to the U.S. multifamily market; in 2024 the firm originated over $30 billion in debt financing volume, including lending over $25 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 and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
15 minutes ago
- Yahoo
Got $1,000? 2 High-Yield Healthcare Stocks to Buy and Hold Forever
Key Points The average healthcare stock is yielding a fairly modest 1.8% these days. Medtronic has a historically high yield and a long history of raising its dividend. Alexandria Real Estate's yield is ultra-high, and it has plenty of dividend coverage. 10 stocks we like better than Medtronic › The average healthcare stock has a yield of just 1.8%, which isn't much to write home about today. You can do much better than that with Medtronic (NYSE: MDT), currently yielding 3%, or if you're really income-hungry, Alexandria Real Estate Equities (NYSE: ARE), now at 6.9%. Here's why these two high-yield healthcare stocks could be buy-and-hold candidates for your income portfolio right now. Medtronic is moving in the right direction A $1,000 investment in Medtronic will get you around 10 shares of the medical device giant. It has operations in the cardiovascular, neuroscience, medical-surgical, and diabetes arenas, and is a major player in every niche in which it operates. It also has a long history of success that's highlighted by the company's 48-year streak of annual dividend increases, which puts it just two years away from Dividend King status. That dividend streak is really important because it shows that Medtronic knows how to survive through both good and bad times. Indeed, a company can't create a record like that without having successfully muddled through a few rough patches. The 3% dividend yield is historically high today, which signals that Medtronic is going through another rough patch. What's happening right now, however, isn't unusual. Medtronic's business is heavily dependent on research and development. R&D is notoriously lumpy, and recent years haven't been great for new product launches. But new products are starting to get introduced, which should help boost growth. Meanwhile, costs have become an issue. It's normal for a large company to experience bloat, and Medtronic is looking to slim down and refocus around its most profitable businesses; the next big move is the spinoff of its diabetes business in 2026. The move is expected to be accretive in the first year, highlighting management's focus on profitability. In other words, Medtronic is doing what it should be doing -- and that is what it has long done as a business. If you have a buy-and-hold mentality, putting $1,000 to work in Medtronic today could be a great long-term investment choice. Alexandria is an industry-leading healthcare landlord You can buy around 12 shares of Alexandria Real Estate Equities with $1,000. It's a real estate investment trust (REIT) that focuses on owning medical offices. But that description doesn't do it justice, because those medical offices are highly specialized around medical research. They're vastly different from doctors' offices, given the technology needed to support healthcare research and development. Alexandria has long focused on building clusters -- a number of buildings located near each other -- in areas where medical research is a major industry. That helps with costs, and also helped to solidify the REIT as a leading property owner in its chosen niche. That said, Alexandria is in a bit of a transition period right now, as it looks to slim down to its best assets amid a broader slowdown in the medical-office space. A few large move-outs have also hampered results, with occupancy down to roughly 91% at the end of the second quarter of 2025, from about 95% at the end of 2024. Investors are worried, which isn't unreasonable, since adjusted funds from operations (FFO) per share fell slightly year over year in the second quarter. Still, the $2.33 per share in adjusted FFO is more than enough to cover the $1.32 per share in quarterly dividends. While it's true that office space requires more cash investment than many other property types, there is material leeway for adversity for Alexandria. And given that the dividend has been increased annually for 15 straight years, it seems highly likely that the board will look to support the dividend through this weak patch. Note, too, that the balance sheet is in very strong shape and the company doesn't have any material near-term debt maturities on the horizon. If you don't mind buying when others are fearful, this REIT looks like an attractive income opportunity. The right time to buy is often the hard time to buy It's easy to buy stocks that everybody loves, but just following the crowd can lead to bad investment choices. That's why it often pays to go down a less crowded path, buying well-run businesses when they're facing hard times. That's exactly the case with both Medtronic and Alexandria Real Estate Equities today. History suggests that both have a good chance of breaking out of their current funk. And that makes them strong buy-and-hold investment choices for long-term dividend investors. Should you buy stock in Medtronic right now? Before you buy stock in Medtronic, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Medtronic wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $654,781!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,076,588!* Now, it's worth noting Stock Advisor's total average return is 1,055% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 18, 2025 Reuben Gregg Brewer has positions in Medtronic. The Motley Fool has positions in and recommends Alexandria Real Estate Equities. The Motley Fool recommends Medtronic and recommends the following options: long January 2026 $75 calls on Medtronic and short January 2026 $85 calls on Medtronic. The Motley Fool has a disclosure policy. Got $1,000? 2 High-Yield Healthcare Stocks to Buy and Hold Forever was originally published by The Motley Fool Sign in to access your portfolio
Business Wire
16 minutes ago
- Business Wire
PPG recognized in Newsweek's America's Greatest Companies 2025 list
PITTSBURGH--(BUSINESS WIRE)--PPG (NYSE:PPG) today announced that it has been named to Newsweek magazine's inaugural America's Greatest Companies 2025 list. The list recognizes 650 U.S. companies that are operating at the highest caliber when it comes to business performance. 'PPG prides itself on its workplace culture, operational excellence and financial stability, which is why we're honored to be included among the greatest American companies,' said Bryan Iams, PPG vice president and chief communications officer. 'As a leading manufacturer of paints, coatings and specialty products, we work to ensure that we're leveraging the strengths of our 45,000 employees to deliver innovative, industry-leading solutions to our customers as we continue to protect and beautify the world.' Newsweek's America's Greatest Companies 2025 recognizes the nation's leading corporations through an in-depth analysis of their performance across four key pillars of excellence: financial strength and market performance, dedication to the American workforce, track record of innovation, and commitment to environmental sustainability and corporate ethics. Companies must be listed on a U.S. exchange, have their main office in the U.S., and report revenue exceeding $75 million in 2024. PPG: WE PROTECT AND BEAUTIFY THE WORLD® At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers' biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $15.8 billion in 2024. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc. CATEGORY Corporate
Yahoo
18 minutes ago
- Yahoo
Broad Arrow Sets Eight World Records, Hits $57.4 Million at Monterey Jet Center Auction
Broad Arrow's 2025 Monterey Jet Center Auction posts $57.4M in sales with eight record-breaking prices across modern and classic cars. Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, achieved $57.4 million in total sales at its annual Monterey Jet Center Auction, setting eight world auction records across a diverse lineup of modern and classic cars. Held August 13–14 in partnership with Motorlux, the sale also marked Broad Arrow's largest bidder registration to date, with numbers rising more than 20 percent compared to 2024. The headline result came from a 2005 Maserati MC12 Stradale, which sold for $5.2 million, establishing a new record for the model and becoming the most valuable modern Maserati ever sold at auction. Auctioneer Lydia Fenet sparked spirited competition both in the room and over the phone before the winning bid was placed by a buyer in attendance. Additional top results included a 2008 Koenigsegg CCXR, one of just 11 built, that sold for $3.2 million, quadrupling its 2015 sale price. A rare 1980 BMW M1 Procar achieved a record $1.6 million, while a 2009 Mercedes-Benz SLR McLaren Prototype 'Stealth' reached $1 million. Other highlights included a 2011 Hennessey Venom GT, which brought $588,000, a record for the model outside of charity sales. Broad Arrow also spotlighted its growing focus on Japanese performance cars, with strong prices for a NISMO-restored 1999 Nissan Skyline GT-R, which sold for $692,500, and a Subaru Impreza 22B STi at $235,200. A 1995 Toyota Supra RZ closed the sale on a high note, exceeding estimates at $80,640. Classic European icons also performed well, with a 1967 Ferrari 275 GTB/4 selling for $2.56 million and a 1955 Mercedes-Benz 300 SL Gullwing at $1.9 million. Collectors also bid competitively on American muscle, led by two record-setting Dodge Vipers from the American Performance Collection. 'Collectors and industry insiders took notice of the quality and relevance of the cars on offer,' said Barney Ruprecht, Broad Arrow senior car specialist. 'The results reflect the strength of modern collectibles as generational tastes continue to shift.' ⚡️ Read the full article on Motorious
