Walker & Dunlop Arranges $87 Million Financing for La Costa’s Largest Community

Walker & Dunlop, Inc. announced today that it arranged the $87.2 million acquisition financing for Santa Fe Ranch Apartments, a 320-unit garden-style conventional multifamily property in the coastal submarket of La Costa, California.

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Santa Fe Ranch

Walker & Dunlop Capital Markets led by Mark Grace and John Montakab arranged the interest-only, fixed-rate loan on behalf of an institutional investment group, with Freddie Mac providing the capital.

Santa Fe Ranch is a 1987-vintage, 320-unit multifamily community situated on 20 acres in one of San Diego County’s most desirable and supply-constrained areas. The property offers a mix of spacious 1- and 2-bedroom units and features an attractive amenity package that includes a resort-style pool and spa, updated fitness center, business lounge, BBQ/picnic areas, and a dog park, appealing to the area’s active, lifestyle-oriented renter demographic.

As the largest community in La Costa and the third largest in all of Carlsbad, Santa Fe Ranch offers walkable access to top-rated schools, retail, dining, and outdoor amenities like Stagecoach Park. With direct access to major employment hubs and proximity to one of San Diego’s strongest rent growth markets, the property’s prime location and affluent tenant base position it for long-term value.

“Santa Fe Ranch is a standout asset in Carlsbad, held by the seller for many years. Our client is acquiring a rare value-add opportunity in a prime, supply-constrained market where new development is extremely limited, highlighting the long-term growth and strategic potential of this property,” said Mark Grace, senior managing director of Capital Markets at Walker & Dunlop.

Walker & Dunlop is a leader in multifamily property sales, having completed over $57 billion in property sales volume since 2021. The firm is also one of the top providers of capital to the U.S. multifamily market. In 2024, Walker & Dunlop originated over $30 billion in debt financing volume, and sourced over $16 billion from non-Agency capital providers, including lending over $25 billion for multifamily properties. To learn more about our capabilities and 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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