BETHESDA, MD – Walker & Dunlop, Inc. announced that it structured $25,200,000 in Fannie Mae financing for Bethlehem Fields Apartments, a 216-unit, Class-A multifamily property located in Bethlehem, Pennsylvania in the Lehigh Valley region. Walker & Dunlop arranged the refinancing on behalf of Boyd/Wilson, a repeat client with 38 years of experience in commercial real estate development and property and construction management throughout Pennsylvania.
This financing for Bethlehem Fields, which was originally organized as a bank execution prior to the COVID-19 pandemic, represented Boyd/Wilson’s first Agency execution. Amid market uncertainty, the Philadelphia Capital Markets team, including Managing Directors, John Banas and Kris Wood, as well as Analysts John Wilson and Rhett Saltiel, quickly pivoted to secure the best financing solution for their client. Leveraging their strong relationship with Fannie Mae, the team structured the deal with three years of interest-only payments and an attractive fixed rate for the ten-year loan term.
Frank Barrett, President of Boyd/Wilson, commented, “John and his team provided a smooth refinance process with Fannie Mae. Their professionalism and insight were second to none. We were able to lock in an extremely competitive rate with incredible terms. With their guidance, we were able to easily navigate the complex GSE market.”
Mr. Banas commented, “Boyd/Wilson is a long-standing, well-run family business that owns and operates best-in-class properties; it’s always a pleasure to work with their team.”
Bethlehem Fields is located minutes from Route 78 and the Delaware River and offers spacious one- and two-bedroom apartments and townhomes with a variety of floor plans. In addition to the 14 residential buildings on site, the property features a clubhouse, playground, fitness center, picnic areas, and garages. Boyd/Wilson plans to utilize the cash-out proceeds to perform capital improvements at the property.

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DALLAS, TX – Gardner Capital, a family-owned private equity firm specializing in multifamily housing and renewable energy development and investment, is just weeks away from completion on the Reserve at Hickory Commons, a new 62-unit apartment building in Winston-Salem.
Stratford Capital is Gardner Capital’s tax equity partner while Churchill Stateside Group provided both construction and permanent financing for the project.
“We strive to make living spaces that are functional, affordable and memorable, and this location will be a terrific option for Winston-Salem residents,” said Michael Gardner, President and CEO of Gardner Capital. “We are very excited about Hickory Commons, the first of multiple new projects that we have coming online in North Carolina over the next two years.”
East Point Homes is the general contractor for the Reserve at Hickory Commons, which will be located at 1295 Hartman Plaza Dr. Excel Property Management will serve as on-site property manager for the Reserve at Hickory Commons, which will have a mix of one-, two- and three-bedroom garden-style apartments available in September. The property will also include a clubhouse and multipurpose room, computer center, fitness center and community laundry room. Each unit includes an outdoor porch or patio.

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PORTLAND, OR – Mill Creek Residential, a leading multifamily developer and operator specializing in premier apartment communities across the U.S., has announced leasing and go ins are underway at Modera Akoya, a luxury mixed-use community located on the southwestern edge of the eclectic Pearl District.
The community, which offers 295 contemporary apartment homes, a deluxe suite of amenities and approximately 20,000 square feet of ground-floor retail, boast a prime location amidst Portland’s key hot spots. The site features a near-perfect Walk Score of 99, a Transit Score of 97 and a Bike Score of 95.
“Since its revitalization in the 1990s, the Pearl District has steadily morphed into one of the most sought-after living destinations in the city,” said Sam Rodriguez, senior managing director of development in Portland for Mill Creek. “We’re excited to expand our Portland presence with Modera Akoya, which will place virtually everything at the fingertips of our residents, whether they choose to walk, bike or drive.”
Modera Akoya, built to a LEED Gold standard, is the area’s first fully smart-home-equipped community. The technology package includes keyless entry, programmable Honeywell Thermostats, Wi-Fi calling throughout the community and smart lighting controls. All of these technology features can be engaged by residents through an app or by an Alexa-enabled device via voice. The community is also offering virtual and self-guided touring and online lease options to allow for a contact-free leasing and go-in experience if desired.
Located at 1430 Northwest Hoyt Street, residents have walkable access to a variety of attractions within the eclectic Pearl District, including indie boutiques, cutting-edge restaurants, breweries and artisan coffee shops. The community sits one block from the acclaimed McMenamins Mission Theater. Residents also are within a quick commute of Downtown Portland, which is less than two miles south of the community and easily accessible from nearby Interstate 405. The Portland Streetcar, located three blocks east of the community, provides additional transit options.
Modera Akoya offers studio, one- and two-bedroom homes with a variety of stylish open floor plans. Community amenities are highlighted by a 12th-floor sky deck that features magnificent views of the city skyline, West Hills and Willamette River. Additional common-area attractions include a fire table with multiple seating areas, lobby with plush seating, yoga studio, coffee bar and a clubroom with pool table and TV lounge. Residents at the pet-friendly community also have access to Amazon package lockers and nine electric-vehicle charging stations.
Apartment interiors are equipped with wood plank-style flooring, energy-efficient stainless steel appliances, quartz marbled countertops and full backsplashes, full-size washers and dryers, roller shades and individually controlled air conditioning. Select homes feature balconies or terraces, kitchen pantries and walk-in closets.
Modera Akoya marks Mill Creek’s ninth development community in Portland, joining Modera Belmont, Modera Buckman and Modera Pearl, which are also currently leasing.

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