Walker & Dunlop has arranged a $28.4 million fixed-rate refinance loan for Grand at Grenelefe, a multifamily property located in the Lakeland-Winter Haven metro-area.
The W&D Florida Capital Markets team led by Harvey Pava arranged the refinance loan on behalf of the client, Alya Equities. The loan features a 5-year term with 12 months of interest-only payments on a step-down prepayment structure.
Grand at Grenelefe is a 417-unit fractured multifamily property offering a diverse mix of 1-, 2-, and 3-bedroom units situated on over 160 acres of land. The area has seen strong demographic growth, with a steadily increasing population and consistent annual rent growth.
The property was built in 1986 and is located at 3119 Camelot Drive in Haines City. Positioned approximately midway between Tampa and Orlando along I-4, the Lakeland-area serves as a key logistics hub for industrial businesses. The property benefits from the region’s robust multifamily market, driven by its strategic location.
“While many borrowers are struggling to exit short term bridge loans they took a few years back, together with Alya, we were successfully able to secure a cash-out bank loan which is a testament to both Alya’s disciplined investment approach and our collaborative efforts.”, said Harvey Pava, Managing Director of Capital Markets at Walker & Dunlop.
“At Alya, we focus on acquiring assets where we see clear potential to create long-term value. Grenelefe fits that vision. We’re drawn to properties with untapped opportunities that aren’t solely reliant on market cycles. We appreciate the ongoing partnership with Walker & Dunlop in helping us execute on our strategy.”, said Yossi Edelkopf, CEO of Alya Equities.
