Walker & Dunlop Hosts $ 56 Million Funding for Career Trail Development, a Unique Adaptive Reuse Project in Columbus, OH
Thanks to a partnership with the Columbus and Franklin County Metro Parks, the development is located in a nature park and sits next to a 60-foot waterfall, 160-foot vertical rock face, and over two miles of riverside trails – all very visible in the booming city of Columbus.
Thrive’s Adaptive Reuse Plan for Quarry Trails reflects the community’s natural environment, designed as an extension of the 180-acre park with possible green features in mind. The first phase of development also includes a mixed-use downtown area containing an office building, 20,000 square feet of retail space and a community center.
The construction financing was organized by Jeff Morris, Chad Kiner and AJ Mangan, of the Ohio Capital Markets group of Walker & Dunlop. The team identified two large local banks in Columbus region as ideal capital partners to finance the acquisition and construction of land for the community. Quarry Trails Apartments and Quarry Trails Townhomes and Flats have a competitive semi-permanent construction and funding term of three years and a funding term of five years, respectively.
Managing Director of Walker & Dunlop, Chad Kiner commented, “Thrive Companies embodies the quality of the clients our office works with on a daily basis. General manager Jeff Morris, added: “We were delighted to work with Thrive Companies, to finance this unique development with an architectural style complementary to the landscape of the old limestone quarry. Thrive is one of the most forward-thinking developers out there, and this project reflects that. “
Walker & Dunlop has one of the strongest networks of capital providers in the industry, arranging financings with more than 250 sources of capital in 2020 alone. During the same period, the company closed $ 11.0 billion negotiated loan arrangements. For a full list of Walker & Dunlop’s financing capabilities, visit our website.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered at Bethesda, Maryland, is one of the largest commercial real estate finance companies in United States. The company provides a full suite of capital solutions for all categories of commercial real estate assets, as well as brokerage services for the sale of investments to owners of multi-family properties. Walker & Dunlop is included in the S&P SmallCap 600 Index and has been ranked among the FORTUNE The magazine’s fastest growing companies in 2014, 2017 and 2018. More than 1,000 Walker & Dunlop professionals in 38 offices across the country have an unwavering commitment to customer satisfaction.
SOURCE Walker & Dunlop, Inc.