11 hours ago
Walker & Dunlop Arranges $106 Million Financing for Second Phase of D.C. Luxury Apartments by WC Smith
BETHESDA, Md.--(BUSINESS WIRE)-- Walker & Dunlop, Inc. announced today that it provided $106.3 million in financing for Agora, a Class A 334-unit high-rise multifamily asset in Washington, DC.
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.
