Walker & Dunlop Arranges $238 Million Refinancing for Miami Multifamily Community

The Capital Markets team sourced nearly $9.6 billion for multifamily properties in the first half of 2026.

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BETHESDA, Md.--(BUSINESS WIRE)--

Walker & Dunlop, Inc. announced today that it has arranged $238,000,000 to refinance The Landmark South, a 631-unit, Class A multifamily community in Doral, Florida.

The Landmark South. Photo Credit: Walker & Dunlop

Walker & Dunlop Capital Markets Institutional Advisory arranged the financing on behalf of JSB Capital. Aaron Appel, Michael Stepniewski, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Sean Bastian, and Stanley Cayre arranged the floating-rate, interest-only bridge loan from Torchlight Investors.

“The scale and quality of The Landmark South generated strong interest from the lending community, and we focused on finding a capital solution that provided both proceeds and flexibility,” said Appel, senior managing director of Capital Markets and co-head of Institutional Advisory at Walker & Dunlop. “Torchlight delivered a structure that gives JSB Capital time to execute its business plan while preserving multiple options as the capital markets continue to evolve.”

Completed in two phases in 2017 and 2021, The Landmark South comprises approximately 641,527 rentable square feet and offers one-, two- and three-bedroom residences averaging 1,017 square feet. Community amenities include two resort-style pools, two 24-hour fitness centers, outdoor courtyards, a business center, pet spa, resident lounges and structured parking.

The property is located in the heart of Doral, one of Miami-Dade County’s most institutionally sought-after multifamily submarkets. High homeownership costs, limited new supply, and continued population growth support long-term rental demand. Doral also offers connectivity to Miami’s primary employment corridors via the Palmetto Expressway, Dolphin Expressway and Florida’s Turnpike, along with access to retail and lifestyle destinations including Downtown Doral, CityPlace Doral and Dolphin Mall.

“The Landmark South fits within our strategy of investing in well-located assets in growth markets where demand continues to outpace available housing,” said Jared Frydman, managing director at JSB Capital. “Doral’s growing employment base, barriers to homeownership and limited new supply give us conviction in the property’s long-term position. We appreciate Walker & Dunlop’s partnership in navigating the capital markets and arranging a financing solution that supports our strategy for the asset.”

In the first half of 2026, Walker & Dunlop’s Capital Markets team sourced over $13.9 billion from non-Agency capital providers, including nearly $9.6 billion for multifamily properties. This vast experience has made them a top advisor on all asset classes for many of the industry’s top developers, owners, and operators. To learn more about Walker & Dunlop’s broad financing options, visit our website.

About Walker & Dunlop

Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260928519663/en/

Media:
Nina H. von Waldegg
Public Relations
Phone 301.564.3291
nhvwaldegg@walkerdunlop.com

Source: Walker & Dunlop, Inc.

Key Terms

floating-rate financial

A floating-rate is an interest rate on a loan, bond or other debt that moves up or down over time based on a regularly published reference number, so the payments change as market rates change. For investors, that means income and interest costs track current market conditions—like a thermostat that adjusts with room temperature—offering protection when rates rise but adding uncertainty about future cash flow.

interest-only financial

A loan or payment plan where the borrower pays only the interest for a set period while the original loan amount (the principal) stays unchanged; after that period payments typically rise to cover principal or a lump-sum principal payment is due. For investors this matters because interest-only structures change cash flows and risk: they can boost short-term income but increase the chance of payment shock or default later, similar to renting a car without paying down the purchase cost until the final bill arrives.

bridge loan financial

A bridge loan is a short-term loan used to quickly provide funds until a larger, long-term financing option is in place. It acts like a temporary bridge, helping individuals or businesses cover immediate expenses or complete transactions without delay. For investors, it’s important because it offers quick access to cash but often comes with higher costs and short repayment periods.