BETHESDA, Md., Feb. 16, 2022 /PRNewswire/ -- Walker &
Dunlop, Inc. announced today that it completed the
$66,200,000 sale of The
Lydian, a mixed-use property located in the heart of
Denver, Colorado. Built in 2018,
the Class A, luxury building is comprised of 129 apartment units,
8,176 square feet of ground floor retail space, and 14,500 square
feet of designated coworking office space.
Dan Woodward, Dave Potarf, Matt
Barnett, and Jake
Young of Walker & Dunlop Investment Sales completed
the disposition on behalf of Confluence Companies. Cohen Rojas
Capital Partners purchased the property and Justin Nelson and Jay Thomas of Walker & Dunlop's Capital
Markets Group arranged the acquisition financing.
Mr. Woodward commented, "The sale of the Lydian is indicative of
a rebounding of Downtown Denver
from Covid-19. Rent growth within the market is climbing higher
than pre-pandemic levels."
The Lydian is an all-inclusive community offering residents
complementary retail space, occupied by a yoga studio and upscale
cocktail lounge, and state-of-the-art co-working office space. Out
of 129 apartment units, 22 are rent restricted at 80% area median
income (AMI), and The Lydian also provides amenities such as a
rooftop lounge and pool, fitness center, coffee bar, underground
parking, and bike storage. With sweeping downtown and mountain
views, the property sits within Downtown
Denver's resurgent Five Points neighborhood and is just
steps from the 25th & Welton Light
Rail stop.
Walker & Dunlop is a leader in multifamily property sales,
having completed $19.3 billion in
property sales volume in 2021 alone, up 214% from 2020. The firm
was also the top provider of capital to the U.S. multifamily
market, originating $31 billion in
transactions and lending over $24
billion for multifamily properties in 2020. For information
about multifamily properties available for sale via Walker &
Dunlop's investment sales platform, visit our website.
About Walker & Dunlop
Walker &
Dunlop (NYSE: WD) is the largest provider of capital to the
multifamily industry in the United
States and the fourth largest lender on all commercial real
estate including industrial, office, retail, and hospitality.
Walker & Dunlop enables real estate owners and operators to
bring their visions of communities — where Americans live, work,
shop and play — to life. The power of our people, premier brand,
and industry-leading technology make us more insightful and
valuable to our clients, providing an unmatched experience every
step of the way. With over 1,000 employees across every major
U.S. market, Walker & Dunlop has consistently been named
one of Fortune's Great Places to
Work® and is committed to making the
commercial real estate industry more inclusive and
diverse while creating meaningful social, environmental,
and economic change in our communities.
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SOURCE Walker & Dunlop, Inc.