BETHESDA, MD – Walker & Dunlop, Inc. announced that it structured $84,375,000 in financing for The Residences at Annapolis Junction, a 416-unit Class A apartment community. The LEED Gold-certified property was originally delivered in 2018.
Located in Annapolis Junction, Maryland, halfway between Baltimore and Washington, D.C., and in highly desirable Howard County, the property is uniquely positioned within minutes of the National Security Agency, Fort Meade, and BWI Marshall Airport. The community also offers convenient access to local transit, including MARC train stations, Amtrak, and Interstate 295.
Dee McClure, Managing Director, and Katie Runyan, Senior Director, led the Walker & Dunlop team in arranging the Freddie Mac financing. Details of the ten-year non-recourse loan include a three-year interest only period. The permanent financing for The Residences at Annapolis Junction replaces the existing debt previously provided through Walker & Dunlop’s bridge lending program, which utilizes the company’s own balance sheet to offer small-term, non-recourse loans for properties that are being bought or repositioned as part of a new business strategy.
Ms. McClure noted, “This refinancing reflects Walker & Dunlop’s commitment and ability to meet our clients’ changing needs. In this case, the bridge loan we provided in 2018 allowed ample time for stabilization, and the Freddie Mac transaction provided financing to Armada Hoffler for an off-market acquisition.” She added, “This continuum of financing showcases the full spectrum of services and creative solutions Walker & Dunlop can bring to our clients.”
“Dee and Katie took charge of the entire process providing an exceptional customer service experience in addition to valuable insight and recommendations on the most advantageous structuring. We were most pleased with the execution and the ability for Walker & Dunlop to deliver higher proceeds than originally plotted,” said Michael O’Hara, Chief Financial Officer of Armada Hoffler.
Located in a suburban nature setting, The Residences at Annapolis Junction are within commuting distance to major cities as well as local schools, country clubs, and the Towers Branch Park nature and hiking trails. The property offers premium amenities, including a heated resort-style saltwater pool, a sundeck with a fireplace, TV, gazebos, and cabanas, as well as grill areas and a bocce court. Additional features include a fitness center, movie theater, community room, billiards room, 24-hour business center, bike repair room and bike storage, and parking with car charging stations. Units feature premium fixtures and finishes, and 50 percent of the apartments are scored as mission-driven by Freddie Mac.

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CHARLOTTE, NC – Madison Capital Group announced the acquisition of Foundry Point Apartments, a 275-unit multifamily community located in Downtown Charleston, SC.
Foundry Point is a premier mid-rise community located on the upper peninsula section of Downtown Charleston. Foundry is located blocks away from several restaurants and breweries and a small distance to Historic Downtown Charleston.
“Foundry Point is an asset that we plot to hold long term as we believe in the long-term growth of Charleston, particularly on the Peninsula. The nearby corridor is continuing to transform, and we are excited to see how the area looks in 10 – 15 years”, said Ryan Hanks Founder of MCG.
Madison Capital Group has been very active over the last 10 years in the Charleston region and has a large office in Downtown Charleston. Madison has been involved in the acquisition and development of 13 other communities in the Charleston MSA since 2009 and has two more communities plotted in Downtown and West Ashley.
Madison Capital Group, LLC is multifamily investment firm based in Charlotte, NC and focuses on the development and acquisitions of Class A multi-family projects throughout the Southeast.

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SAN LUIS OBISPO, CA – Presidio Residential Capital has announced its plot for a collection of 296 townhomes, condominiums and efficiency condos at The Orchard, a multifamily neighborhood in the highly anticipated mixed-use development of San Luis Ranch in southwest San Luis Obispo.
The Orchard will consist of three projects with distinct designs and price ranges constructed by Presidio’s joint venture partners Coastal Community Builders (CCB) and Williams Homes. CCB will build Harvest Vista, consisting of 96 condominiums, and Williams Homes will present Fig, a collection of 80 townhomes. A third neighborhood called Harvest Lofts featuring 120 efficiency condos is also plotted for future development.
Site improvements are underway on the 11-acre parcel with model construction anticipated to start in spring 2021. The combined value of these three communities located at 1035 Madonna Road is estimated at $150 million.
“These well-thought-out communities are ideal for young families, first time homebuyers and even retirees looking to downsize,” said Don Faye, co-principal of Presidio. “The neighborhoods offer low-maintenance living at the center of an exciting “farm-to-table” community concept.”
CCB’s Harvest Vista community will feature two- to three-bedroom plans ranging from 950 to 1,140 square feet. These contemporary condominiums will be appointed with laminate flooring, quartz countertops and high-efficiency appliances with every unit having a spacious private outdoor patio or balcony. Prices will start from the high $400,000s.
At Fig, the farmhouse inspired townhomes by Williams Homes will showcase three-bedroom, two- to three-tale open concept designs ranging from 1,346 to 1,501 square feet. Floor plans will offer GE appliance packages, laminate flooring, quartz countertops, private patios and decks and two-car garages. Prices will start from the high $500,000s.
The third community, called Harvest Lofts, is suited to young professionals, couples and anyone looking for a more affordable option. Both studio and one-bedroom dwellings, ranging from 380 to 580 square feet, will be available in the future with prices projected to start from the mid $300,000s.
Residents of all three communities will have access to the Harvest Club, a well-appointed gathering area within The Orchard that will include an 1,800-square-foot multi-purpose center with community room and pool.
“CCB and Williams Homes have designed an attractive collection of multifamily homes providing a right sense of community with modern living at their core,” said co-principal at Presidio, Paul Lucatuorto. “Their progressive and practical home designs offer living spaces for today’s busy lifestyles without sacrificing aesthetic, convenience or connection to nature.”
San Luis Ranch is the first farm-to-table community on California’s Central Coast, preserving agricultural land and built alongside an organic farm. Multimodal pathways are within simple reach encouraging residents to walk or bike to work, retail centers, amenities and relaxing open spaces. The master plot has over 50 acres of agricultural land and dedicated open space, which helps preserve the area’s eco-system.
The 131-acre master plotted community includes 150,000 square feet of retail space; 100,000 square feet of office space; a four-tale, 200-room hotel; and a total of 580 residential homes. The development is within a 10-minute commute to Cal Polytechnic State University (SLO) as well as downtown San Luis Obispo. Entertainment, shopping and parks are nearby, and the San Luis Obispo County Regional Airport is within a small drive.
The area is serviced by the San Luis Coastal Unified School District, and students can attend C.L. Smith Elementary, Laguna Middle School and San Luis Obispo High School.

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