Walker & Dunlop arranges $86.5M bridge loan for Richmond's Chasen
Capital Square is the borrower on the 352-unit Scott's Addition community, which sits in a Qualified Opportunity Zone.
At a glance
Walker & Dunlop arranged $86.5 million in bridge financing for Chasen, a 352-unit multifamily community in Richmond's Scott's Addition neighborhood, Connect CRE reported.
The coverage describes the transaction as a refinancing on new collateral, so the loan likely retires construction or earlier bridge debt.
At $86.5 million across 352 units, the financing implies roughly $245,700 per unit if the whole loan sits against the community.
Walker & Dunlop arranged $86.5 million in bridge financing for Chasen, a 352-unit multifamily community in Richmond's Scott's Addition neighborhood, Connect CRE reported. The firm arranged the loan for Capital Square.
The coverage describes the transaction as a refinancing on new collateral, so the loan likely retires construction or earlier bridge debt. This publication has argued that a Federal Reserve that repriced duration pushed exit dates past the refinance windows most deals were written to.
The property sits in a Qualified Opportunity Zone. Connect CRE names Alexandra Huffman and Justin Nelson among the Walker & Dunlop team.
At $86.5 million across 352 units, the financing implies roughly $245,700 per unit if the whole loan sits against the community. Occupancy was not disclosed.
| Party | Role | Detail |
|---|---|---|
| Walker & Dunlop | Arranger | Capital Markets Real Estate Finance group, on behalf of Capital Square |
| Capital Square | Borrower | Loan arranged for its account |
| Chasen | Collateral | 352-unit multifamily, Scott's Addition, Richmond, Va. |
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