Walker & Dunlop has arranged $153.3 million in refinancing for a three-property multifamily portfolio developed by Hathaway Development, providing new capital to strengthen the borrower’s financial position across key Southeastern markets. The financing package refinances existing construction debt and replaces outstanding preferred equity for three garden-style communities located in Louisiana, Florida, and North Carolina.
The portfolio includes 876 luxury apartment units across three recently delivered properties. Exchange at Juban in Denham Springs, Louisiana, completed in 2024, received $44.7 million in refinancing. Exchange at Blair Stone in Tallahassee, Florida, a 300-unit community completed in January 2025, received $52.4 million. Exchange at Indian Trail in Indian Trail, North Carolina, delivered in January 2025, received $56.2 million. All three loans were provided as floating-rate bridge financing from ACRES.
The transaction was arranged by Walker & Dunlop Capital Markets for Hathaway Development, a long-time client of the firm. The team included Stephen Farnsworth, Hanes Dunn, and Robert Henry. The refinancing strengthens the capital structure for the properties as they continue lease-up and stabilization across growing markets in the Southeast.
Walker & Dunlop remains one of the largest capital providers to the U.S. multifamily market, originating over $30 billion in debt financing volume in 2024, including more than $25 billion specifically for multifamily assets.
KEY QUOTES:
“We’re proud to have partnered with Hathaway Development on the refinance of this three-property portfolio. The assignment aligned perfectly with our team’s strengths—deep capital-markets knowledge, disciplined underwriting, and the ability to navigate complex structures. Working closely with our trusted lender partner ACRES, we secured attractive first-mortgage financing that optimized proceeds and supported Hathaway’s strategic plan. The transaction reflects the quality of the assets, the strength of the sponsorship, the capabilities of the lender, and the expertise our team brings to every mandate.”
Hanes Dunn, Senior Manager at Walker & Dunlop
“As a firm, we focus on identifying assets in markets where meaningful supply–demand imbalances create strong opportunities for rent growth and long-term value. This portfolio exemplifies that strategy across Louisiana, Florida, and North Carolina. We approach every investment with the goal of building and preserving value, and the support from Walker & Dunlop was instrumental in bringing this transaction to a successful close.”
Daniel Hathaway, Hathaway Development
