BIRMINGHAM, AL – Walker & Dunlop, Inc. announced that it completed the sale and financing for The Moretti at Vulcan Park. The 135-unit property is a Class A, luxury apartment community located in the Homewood neighborhood of Birmingham, Alabama.
Walker & Dunlop’s financing team comprised Managing Directors Stephen West and Matt Wallach, as well as Senior Managing Director Will Baker. Leveraging their deep understanding of GSE lending programs, the team secured a ten-year Freddie Mac loan with five years of interest-only payments and an attractive, fixed rate. The financing assignment was completed on behalf of ApexOne Investment Partners, who bought the multifamily property from Raia Capital Management via Walker & Dunlop’s property sales team, comprised of Managing Directors Kris Mikkelsen and Telly Fathaly.
Said Mr. West, “We’re pleased to have executed both the sale and acquisition financing for The Moretti at Vulcan Park in the face of significant logistical challenges made by the COVID-19 crisis.” He added, “This property is a cornerstone investment in Homewood, a premier neighborhood with high barriers to entry. Despite considerable volatility in the markets, we were able to lock in very attractive debt terms for ApexOne.”
“We’re excited to announce the addition of Moretti to our portfolio. The property fits perfectly within our strategy of purchasing high quality assets with the opportunity to increase value over time by improving common areas and interior units,” commented Tim Burns, Partner and Chief Investment Officer of ApexOne Investment Partners. “We are further pleased to complete this acquisition during the midst of the COVID-19 pandemic, showing the capability of our team to do when markets are hard and opportunities are presented. The Walker & Dunlop teams were integral to the execution of this transaction.”
Located in one of Birmingham’s most highly sought single-family neighborhoods, The Moretti at Vulcan Park is within walking distance to downtown Homewood, a lively and upscale boutique shopping and dining destination. The property is one of only two multifamily communities to deliver in Homewood within the last 20 years and is proximate to Birmingham’s top neighborhoods, schools, lifestyle amenities, and employment centers. Built in 2014, The Moretti features a premium amenity package, high-end in-unit finishes and fixtures, and ample parking.

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JACKSONVILLE, FL – Kernan Oaks Apartments has completed the final phase of a $10 million, 36-month property-wide renovation. This latest round of renovations has made Kernan Oaks Apartments one of the leading lifestyle communities in all of Jacksonville, FL.
The project, which was initiated over 3 years ago, has provided residents with a thoroughly updated apartment community, with both exterior renovations, interior renovations, and upgrades to available amenities for all residents. With these modern features, residents of Kernan Oaks Apartments will delight in an unparalleled lifestyle in central Jacksonville.
Property-wide renovations and amenity upgrades include new high-speed property-wide WiFi, as well as renovated sand volleyball courts, basketball courts, and tennis courts.
In addition, Kernan Oaks Apartments has upgraded its outdoor pool amenities, and added more outdoor entertainment spaces. The pet-friendly facility has also made a new on-site Pet Park complete with an agility course for pet owners who wish to exercise their pups at Kernan Oaks Apartments.
Beyond these luxury amenities, current and future residents of Kernan Oaks will also benefit from quality-of-life amenities including a package concierge locker system, a new shuttle bus system for UNF and FSCJ students, and updated fitness center equipment.
Along with exterior painting and renovations, Kernan Oaks has also invested in modern touches and upgrades for many apartments. These include LED lighting, stone bathroom and kitchen countertops, updated cabinetry, oversized ceiling fans, faux wood blinds, and vinyl plank wood flooring, as well as modern sinks and faucets in every unit.
We re very pleased to bring our latest round of renovations and upgrades to a close, said Brian Cron, General Manager of Kernan Oaks Apartments. With this $10 million investment into our community, we ve been able to provide our residents with a truly brilliant lifestyle that you can t find anywhere else in Jacksonville. It s a huge milestone for us, and we re excited to show future residents everything that our newly-renovated facility has to offer.
These unique updates and renovations make Kernan Oaks Apartments ideal for any Jacksonville resident who is interested in a contemporary lifestyle that allows them to delight in everything that the city has to offer.
Beyond its upgraded amenities and newly-renovated apartments, Kernan Oaks Apartments also features a central location in Jacksonville, only a few miles from destinations like Jacksonville Beaches, University of North Florida, Florida State College of Jacksonville, and the University of Jacksonville.
With its convenient location only minutes away from a nearby Publix and the Kernan Square Shopping Center, Kernan Oaks Apartments is an ideal place to live for students, young professionals, and growing families alike.

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BETHESDA, MD – Meridian Investments announced the closing of R4 Housing Partners XIV, LP., a Section 42 Housing Tax Credit Fund. R4 Housing Partners XIV, LP raised $257.5 million of investor equity and will buy interests in twenty-eight affordable multi-family rental properties located in fifteen states and the Commonwealth of Puerto Rico. Eleven corporate investors participated in the closing. When completed the twenty-eight projects will result in the creation and preservation of 2,758 affordable housing units for families and seniors.
R4 Capital is a nationwide syndicator, lender, loan servicer, and asset manager established in 2011 by its President and CEO, Marc Schnitzer. Rising to meet the new COVID-19 business challenges to ensure the health and safety of everyone directly or indirectly involved and by partnering with our longstanding clients, we were successful in financing these much-needed projects , said Marc Schnitzer. The Housing Credit is our nation s most successful tool for encouraging private investment in affordable rental housing and we thank the Congress for supporting this public – private partnership. Schnitzer continued.
R4 Capital s senior executive team has on average more than 25 years of Housing Tax Credit experience, with a track record that includes over $15 billion of LIHTC equity investments on behalf of more than 200 corporate investors. R4 Capital has continuing relationships with the nation s top LIHTC developers built over 30 years in more than 2,000 transactions. The firm maintains offices in New York, NY, Boston, MA, Newport Beach, CA, and Austin, TX.

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