Walker & Dunlop announced it secured $170 million to refinance Post District, a mixed-use complex with 580 residential units in Downtown Salt Lake City, Utah.
Led by Aaron Appel, Sean Reimer, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, and Jackson Irwin, Walker & Dunlop New York Capital Markets advised Bridge Investment Group, with financing from Fannie Mae’s near-stabilization program.
Post District, developed by Bridge Investment Group, Blaser Ventures, and Lowe Property Group as an opportunity zone development, opened in December 2023. It includes five buildings between 500–600 South and 300–400 West in downtown Salt Lake City, offering various layouts from micro-studios to three-bedroom penthouses, 26,000 square feet of retail space, and 498 parking spaces.
Amenities include an 8,000-square-foot gym, resort-style pool deck, glass infinity-edge spa, movie theater, golf simulator, dog wash, community electric bikes, game room, rooftop lounges, grill area, coworking lounge, market, and club room.
In November 2023, Walker & Dunlop New York Capital Markets arranged $157.5 million to refinance Post District. And in 2024, Walker & Dunlop originated over $30 billion in debt financing, including $25 billion for multifamily properties.
KEY QUOTE:
“Post District is a dynamic urban redevelopment that reflects the strong demand for thoughtfully designed, mixed-use communities in Salt Lake City’s urban core. Located at the grand entrance to downtown Salt Lake City, Post District stands as a pioneering example of opportunity zone development, transforming a once-underutilized block of warehouses into a vibrant, premier live-work-play destination.”
Sean Reimer, managing director of New York Capital Markets at Walker & Dunlop
