Walker & Dunlop arranged $23.9M in construction equity for Emberwood, a to-be-built senior affordable housing apartment complex located in Casa Grande, Arizona.
The W&D Affordable Equity team led by Aaron Krasnow arranged the equity on behalf of the client, Roers Companies. ($23.9 million 4% LIHTC and REITC equity syndication).
Emberwood will be a senior living community serving residents aged 55 and over. The 176-unit senior living community will be located on 8.24 acres and feature a three-story low-rise building and a separate single-story community center. The development will include 55 one-bedroom and 121 two-bedroom apartments, all within an elevator-accessible building. The property will be next door to a 55,000-square-foot community recreation center that opened in 2019 and offers extensive senior programs.
Roers Companies is a multifamily real estate firm powered by in-house development, construction, and property management. The company has 13,000 units either built or under construction.
Walker & Dunlop, headquartered in Bethesda, Maryland, is one of the largest commercial real estate services and finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has over 650 professionals in 29 offices across the nation with an unyielding commitment to client satisfaction.
Roers Companies is a top multifamily real estate developer based in Minnetonka, Minn. with more than $1 billion developed in just 10 years. Roers Cos. has built more than 5,000 market-rate, affordable, active 55+, student and senior housing units in six states, and is currently on pace to reach 20,000 units nationwide by 2025.
