Posted in Business

Palmilla Apartments refinanced

   March 28, 2024

REBusiness Online reports that Walker & Dunlop has arranged a $49.5 million Fannie Mae loan to refinance Palmilla Apartments, a 240-unit multifamily community located at 51 S. Coyle St. in downtown Pensacola.

Will Baker and Doug McDaniel of Walker & Dunlop’s Birmingham office arranged the five-year, fixed-rate loan on behalf of Kore LLC, the borrower.

The borrower will use the proceeds to stabilize Palmilla and pay off construction debt. According to Walker & Dunlop, Kore used Fannie Mae’s green platform for better pricing.

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