Walker & Dunlop Arranges $87 Million Refinancing for Scott’s Addition Property

The financing gives Capital Square flexibility while Chasen builds its operating history, Walker & Dunlop said.

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BETHESDA, Md.--(BUSINESS WIRE)-- Walker & Dunlop, Inc. announced today that it has arranged $86,500,000 in bridge financing for Chasen, a new 352-unit multifamily community in the Scott’s Addition neighborhood of Richmond, Virginia. The property is located in a Qualified Opportunity Zone, part of a federal economic development program established through the Tax Cuts and Jobs Act of 2017 to encourage long-term investment in designated low-income communities through certain tax incentives.

Chasen. Photo Credit: HD Bros

Walker & Dunlop Capital Markets Real Estate Finance arranged the loan on behalf of Capital Square. Alexandra Huffman, Justin Nelson, Andrew Tapley, PJ Feichtmeier, Eric Norris, and Jared Diedrich arranged the variable-rate, interest-only financing through a private credit lender.

“Chasen is a newly completed asset in one of Richmond’s most active neighborhoods, and this financing gives Capital Square flexibility as the property continues to build its operating history,” said Huffman, managing director of Capital Markets Real Estate Finance at Walker & Dunlop. “We were pleased to deliver a financing solution that supports Capital Square’s long-term plans for the property and positions Chasen for continued success.”

Completed in phases from late 2025 to early 2026, Chasen consists of three, six- and seven-story residential buildings on 2.45 acres. The community offers studio, one-, two-, and three-bedroom residences, along with more than 5,000 square feet of ground-floor retail. Community amenities include a resort-style pool, fitness center, rooftop terrace, club room with a golf simulator, whiskey lounge, co-working center, dog wash station, and courtyards featuring native Virginia landscaping. Chasen was also recently recognized as one of Virginia’s top projects by Virginia Business.

“Chasen is poised to become a premier, generational asset within Richmond,” said Natalie Mason, executive vice president and co-head of development at Capital Square. “Strategically located near the intersection of North Arthur Ashe Boulevard and Broad Street (U.S. 250), Chasen sits at the premier access point to the burgeoning Scott’s Addition neighborhood. We appreciate Walker & Dunlop’s work on this financing and their support of our strategy for the property.”

Chasen is located in Scott’s Addition, a former industrial district that has developed into a walkable, mixed-use neighborhood with breweries, restaurants, coffee shops, fitness studios, and entertainment venues. Its central location near the intersection of Interstates 64 and 95 provides access to downtown Richmond, the Fan and Museum Districts, and major employment centers throughout the region.

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/20261007747419/en/

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

Source: Walker & Dunlop, Inc.

Key Terms

bridge financing financial

Bridge financing is short-term funding a company uses to cover expenses until longer-term financing or a sale comes through. Think of it as a temporary loan or financial “bridge” that keeps operations running—similar to borrowing to cover a gap between paychecks. Investors watch bridge financing because it can signal cash pressure, potential dilution, or higher costs to raise capital, which affect a company’s risk and value.

qualified opportunity zone regulatory

A qualified opportunity zone is a government-designated neighborhood where investors can put capital into special investment vehicles to get tax breaks on capital gains; think of it like a tax-discount coupon for projects in certain areas. It matters to investors because using these funds can defer, reduce, or even eliminate taxes on gains if money is held and used for long-term local development, which can boost after-tax returns but also ties up capital and depends on the success of projects in that area.

interest-only financing financial

A loan structure in which the borrower pays only the interest charges for a set initial period, so the outstanding principal balance does not decrease during that time; after the interest-only period ends, payments must include principal repayment (often causing higher monthly payments) or a lump-sum balloon payment is due. Interest-only periods can be fixed in length and may apply to fixed- or variable-rate loans; the arrangement lowers early cash payments but leaves the principal unchanged until the amortization phase or balloon repayment.