Aspen Square Management Lands $268M Refi

Walker & Dunlop provided two Fannie Mae loans, which retire a nearly $200 million line of credit from Capital One.
The Oasis at 1800

Aspen Square Management has received a refinancing package of $268.4 million for a nationwide multifamily portfolio including properties in Arizona, Florida and Massachusetts, according to public records. 

Walker & Dunlop originated the two senior loans through Fannie Mae. The new financing replaces a $197.6 million Fannie Mae line of credit from Capital One, according to Yardi Matrix data. 

The loans encumber a wide range of Class B properties, mostly located in suburban areas. The garden-style communities, constructed between 1968 and 2000, include:

  • Ashton Chase (358 units) in Clermont, Fla.
  • The Oasis at 1800 (280 units) in Tallahassee, Fla.
  • Promenade at Grand (180 units) in Surprise, Ariz.
  • Somerset Palms (169 units) in Naples, Fla.
  • Welby Park Estates (108 units) in New Bedford, Mass.;
  • Lakewood Village (108 units) in Jacksonville, Fla.

In May, Aspen Square Management sold Element at University Park, a 192-unit community in College Station, Texas. Berkadia secured the $14.3 million acquisition loan for the buyer, One Real Estate Investment.