Walker & Dunlop Finances $150 Million for Quantum at Flagler Village in Fort Lauderdale
BETHESDA, Md., July 24, 2023--(BUSINESS WIRE)--Walker & Dunlop, Inc. announced today that it arranged $150 million in financing for Quantum at Flagler Village, a unique class A mixed-use property located in Fort Lauderdale, Florida.
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Quantum at Flagler Village Exterior (Photo: Business Wire)
The Walker & Dunlop Capital Markets team, managed by Joe Hercenberg, arranged the financing for the mixed-use property, securing a refinancing of the construction loan on the newly completed project in its initial lease-up. The team successfully strategized solutions that fit the needs of the client, Prime Group US - PMG Asset Services, and brought in a lender with a fixed rate 60-month loan.
Quantum at Flagler Village consists of two 15-story towers containing 337 "Class A" apartments, 20,884 square feet of urban retail, and a nine-story 137-room Courtyard Marriott hotel with a stunning rooftop pool bar. The property also benefits from a five-story parking garage. Walker & Dunlop also closed the construction loan for Quantum four years ago.
"We are pleased to have worked alongside Walker & Dunlop's expert finance team yet again to secure this transaction," said Larry Abbo, chief executive officer at Prime Group US. "The team was able to provide us with numerous good financing options to choose from, and assist with timely execution through closing."
The property is located in an exciting destination that combines the best of art, shops, restaurants, bars, residences, entertainment and events. A landscaped terrace provides Quantum with an oasis of green, shaded pedestrian walks and courtyards, home to pop-up art shows, musical artists, and culinary offerings.
"This project offers residents a truly one-of-a-kind living experience in the heart of one of Florida's most unique and desirable neighborhoods," said Hercenberg, senior managing director of Capital Markets at Walker & Dunlop. "We're excited about Quantum at Flagler Village and proud to have worked on this unique property."
In 2022, the Walker & Dunlop Capital Markets segment sourced capital for transactions totaling nearly $26 billion from non-Agency capital providers. This vast experience has made them a top advisor on all asset classes for many of the industry’s top developers, owners, and operators. To learn more about Walker & Dunlop’s diverse 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. Our ideas and capital create communities where people live, work, shop, and play. The diversity of our people, breadth of our brand and technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.
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Contacts
Investors:
Kelsey Duffey
Investor Relations
Phone 301.202.3207
investorrelations@walkeranddunlop.com
Media:
Nina H. von Waldegg
VP, Public Relations
Phone 301.564.3291
info@walkeranddunlop.com
