TODAY’S DEALS: Walker & Dunlop Closes $23.8M Refi Loan For 24 Apartment Communities, and Other Transactions

By Anuradha Kher, Online News EditorAlbuquerque, N.M.–Walker & Dunlop provided a $23,790,000 refinance for Cottonwood Ranch located in Albuquerque, N.M. The loan was structured with a 10-year term and a 30-year amortization. The loan was underwritten to a 65 percent loan-to-value with a 1.48x debt-service coverage ratio. Cottonwood Ranch is a garden-style community built in 1999, featuring 24 apartment buildings and one office/clubhouse. Common amenities include two swimming pools and a Jacuzzi; basketball, tennis and volleyball courts; a putting green and a playground. ARA Negotiates Sale of 17-Unit Property for Over $1MDenver–Apartment Realty Advisors (ARA) recently brokered the sale of a 17-unit property located at 136 Washington St. in Denver. The un-disclosed private local buyer purchased the property for $1,095,000, representing a price per unit of $64,412, and a price per square foot of $118.19.