Walker & Dunlop Arranges $24.8M Construction Financing for Community in Michigan

by Jeff Shaw

WYOMING, Mich. — Walker & Dunlop has arranged $24.8 million in financing for the construction of Traditions at Rivertown, a seniors housing complex in Wyoming, a suburb of Grand Rapids.

Walker & Dunlop’s Benjamin Krosin, Jeff Schmidt, Tim Cotter and Russell Dey partnered with Kari Zapolski of Inner Circle Holdings to structure the five-year construction loan with three years of interest-only payments. A regional bank provided the funds to the borrower, Redstone Group Management.

Traditions at Rivertown will be a 150-unit, Class A community with dedicated units for independent living, assisted living and memory care. The property is scheduled for completion in November 2019. 

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