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.