Anderman of Walker & Dunlop leads team in $13 million Fannie Mae refinancing; Goldenberg of Deerwood originates loan for CL Tower in East Harlem

Walker & Dunlop, LLC has provided $13 million in Fannie Mae financing for CL Tower, a class A residential apartment community located in the East Harlem area. The refinance loan was structured with a 10-year term and a 30-year amortization. The loan was underwritten to a 71.8% loan-to-value with a 1.25x debt-service coverage ratio. CL Tower's residential space qualifies the building under New York's 421-a Program and the 15-year tax exemption was granted by the NYC Department of Housing Preservation and Development. Walker & Dunlop provided funding within 43 days of receiving the executed application from the borrower, Cohen & Levy Development Group, LLC. Haim Levy of Cohen & Levy, said, "Walker & Dunlop provided a very competitive financing structure for us and were highly responsive to the loan request. We closed in less than 45 days from application, which was a testament to the skill of the combined closing team. Special thanks to Drew Anderman, Alan Blank and McKenzie Leonard on their efforts which allowed for a smooth transaction." CL Tower is a 12-story, high-rise apartment building built in 2011. The multifamily property offers studios and one-bedroom floorplans in 60 units, totaling 33,767 s/f of net rentable residential space. The property also contains three grade-level retail spaces totaling 4,500 s/f of commercial space. Residential amenities include a central laundry facility, mail center, fitness center, and bicycle storage. CL Tower was 100% leased at closing. Igor Goldenberg, Deerwood Real Estate Capital, originated the loan. Walker & Dunlop senior vice president, Multifamily Finance, Anderman led the Walker & Dunlop team. About Walker & Dunlop Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. (NYSE: WD) is one of the leading commercial real estate finance companies in the United States, with a primary focus on multifamily lending. As a Fannie Mae DUS™, Freddie Mac Program Plus® and MAP- and LEAN-approved FHA lender, the Multifamily and FHA Finance groups of Walker & Dunlop are focused on lending to property owners, investors, and developers of multifamily properties across the country. The Capital Markets group specializes in financing commercial real estate for owners and investors across the United States. Capital for this financing comes from large institutions such as life insurance companies, commercial banks, CMBS lenders, pension funds, and specialty finance companies. The Principal Investment group provides institutional advisory, asset management, and investment management services with respect to debt, structured debt and equity.