Walker & Dunlop, Inc. announced today that it has arranged $96.7 million in total financing to recapitalize three newly constructed Class A communities totaling 640 units in Louisville, Kentucky.

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Belmond Flats. Photo Credit: Highgates Group

Walker & Dunlop Capital Markets arranged the refinancing transactions on behalf of Highgates Group. Jonathan Zilber, Joel Chetner, and Josh Geller, secured three floating-rate, interest-only loans from an institutional lender. Proceeds will be used to repay existing debt, fund closing costs, and return capital to investors.

“Our team arranged the transactions across properties at different stages of completion and lease-up, each requiring a tailored capital solution. The ability to deliver cash-out proceeds with additional earn-out structures on a non-recourse basis at competitive terms, highlights the strength of our platform and the continued availability of capital for experienced developers in today’s market,” said Zilber, senior managing director at Walker & Dunlop. “We’re grateful for the opportunity to partner with Highgates Group and deliver solutions that align with both their near-term needs and long-term strategy.”

The properties are comprised of Belmond Flats with 240 units, Cedar Creek Flats with 168 units and Glengrove Apartments with 232 units. All three properties are newly developed in central locations and offer a full suite of amenities to residents.

“Louisville’s growing economy and diverse employment base continue to support strong demand for quality multifamily housing across income levels,” said Joseph Waldman at Highgates Group. “Walker & Dunlop’s expertise allowed us to structure a tailored solution that leveraged the depth of liquidity available today. Their guidance made the process seamless and gave us confidence in executing our strategy while taking advantage of the city’s long-term potential.”

The three properties benefit from Louisville’s central location, affordable cost of living, and strong transportation links. With major employers like UPS and GE Appliances nearby and easy access to the airport and industrial corridors, residents enjoy convenience for work, shopping, and daily needs. All three are in the Jefferson County Public Schools system, one of the state’s largest districts, offering a wide range of educational options. Combined with the city’s vibrant cultural scene and recreational amenities, these factors support sustained demand for quality multifamily housing.

In 2024, Walker & Dunlop’s Capital Markets team sourced over $16 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 broad 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 and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.

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