Texas Build-for-Rent Community Receives Construction Loan via Walker & Dunlop

BETHESDA, Md., March 11, 2022 /PRNewswire/ — Walker & Dunlop, Inc. announced today that it structured financing for Amavi Celina, a build-for-rent (BFR) neighborhood to be developed in Celina, Texas. According to the Dallas Business Journal, Celina is the fastest growing submarket for new homes in the Dallas-Fort Worth MSA, based on the number of residential permits issued. With construction breaking ground in February 2022, the community will feature 271 homes in total, with 155 cottages, 94 townhomes, and 22 single-family detached homes.

Keaton Merrell and Shannon Hersker of Walker & Dunlop’s BFR & SFR Practice Group arranged the financing on behalf of their client, Mill Creek Residential. The team leveraged their broad range of capital sources to identify a lender and secure an interest-only, four-year construction loan with a competitive rate.

“Walker & Dunlop’s comprehensive set of financing capabilities and advisory services set them apart in the BFR space, and we were impressed by their vast knowledge and expertise,” said Callum Parrott, president of single-family rentals for Mill Creek Residential. “Amavi Celina will be an excellent addition to our portfolio of over 115 multifamily communities, and we’re on pace to deliver the neighborhood’s first homes in August 2023.” Click to read more at www.prnewswire.com.