Monthly Archives February 2018

Walker & Dunlop Provides $34.4 Million Loan for Multifamily Community in Newport News, Virginia

NEWPORT NEWS, VA – Walker & Dunlop announced that it closed a $34,425,000 United States Department of Housing and Urban Development (HUD) loan for Meridian Parkside, a Class A multifamily property in Newport News, Virginia.

Dwight D. Dunton III of Bonaventure Realty Group and Phillip R. Roper III (the "Borrowers") purchased the property in 2016. Walker & Dunlop worked in partnership with HUD’s Baltimore office to refinance the property with a 35-year, low-interest loan through HUD’s 223(f) program.

The financing paid off the existing bridge loan and a portion of the partnership debt from the original purchase, enabling the Borrowers to make immediate, short-term, owner-elected repairs. Walker & Dunlop’s Hal Reinauer, Tom Toland, and Chris Rumul spearheaded the financing assignment.

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Owner wants more tenants at downtown Newport News apartments

The owner of Liberty Apartments in downtown Newport News near the Apprentice School wants increased occupancy. The CEO of Armada Hoffler Properties said one of the company’s goals this year is improving the occupancy at Liberty Apartments next to the Apprentice School in downtown Newport News.

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Credit union robbed in Newport News

(Photo: Newport News Police Dept.)

NEWPORT NEWS, Va. (WVEC) — Police are investigating the robbery of a credit union in Newport News.

Investigators say they received the call of the robbery at 1:52 p.m. Thursday for the BayPort Credit Union located in the 3700 block of Huntington Avenue, not far from Newport News Shipbuilding.

Police said the suspect entered the credit union and passed a note demanding cash. After taking an undisclosed amount of money, the suspect fled south on Huntington Avenue. No weapon was displayed.

If you have any information, you’re asked to call the Crime Line at 1-888-LOCK-U-UP.

© 2018 WVEC-TV

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