Walker & Dunlop Secures $238M Refinancing for Miami Multifamily Asset
Event summary
- Walker & Dunlop arranged a $238M floating-rate, interest-only bridge loan for The Landmark South, a 631-unit Class A multifamily property in Doral, Florida.
- The financing was secured on behalf of JSB Capital, with Torchlight Investors as the lender.
- The Landmark South, completed in 2017 and 2021, offers 641,527 rentable square feet and is located in a high-demand submarket with limited new supply.
- Walker & Dunlop's Capital Markets team has sourced over $13.9B from non-Agency capital providers in the first half of 2026, with nearly $9.6B for multifamily properties.
The big picture
This refinancing highlights the continued appetite for high-quality multifamily assets in growth markets, particularly in submarkets with strong demographic and economic fundamentals. Walker & Dunlop's ability to secure non-Agency financing underscores the firm's expertise in navigating complex capital markets, a trend likely to continue as traditional lending sources remain constrained. The deal also reflects the strategic focus on assets where demand outpaces supply, a key dynamic in the current multifamily investment landscape.
What we're watching
- Capital Markets Flexibility
- How Torchlight's floating-rate structure will allow JSB Capital to navigate evolving capital markets while executing its business plan.
- Submarket Demand
- Whether Doral's barriers to homeownership and limited new supply will sustain long-term rental demand for The Landmark South.
- Non-Agency Financing
- The pace at which non-Agency capital providers will continue to dominate large-scale multifamily refinancing deals.