Green Bay Multifamily Project Receives $15.5 Million Construction Loan
Walker & Dunlop, Inc. announced that it structured a $15,509,300 loan for Manseau Flats, a 78-unit, Class A multifamily development located along the western bank of the Fox River in Ashwaubenon, Wisconsin. Bedford Development will utilize cutting-edge construction techniques and the project will qualify for the National Green Building Standard designation.
Senior Vice President, Brandon Strong, and Managing Director, Chris Rumul, led the Walker & Dunlop team in arranging the new construction loan via the United States Department of Housing and Urban Development (HUD) 221(d)(4) program. The 40-year, fixed-rate loan includes a two-year construction term and provides both construction and permanent financing. The team was able to achieve favorable interest rates for the Developer by implementing HUD’s Green Mortgage Insurance Premium reduction program.