Walker & Dunlop, Inc. announced on May 27, 2025, that it arranged $121.5 million in equity and debt financing for the acquisition of Ocean Gate. This recently built, luxury Class-A apartment community comprises 170 multifamily units in Long Branch, New Jersey.
The Walker & Dunlop Capital Markets team, including Aaron Appel, Jonathan Schwartz, Keith Kurland, Mo Beler, Adam Schwartz, Ari Hirt, Jackson Irwin, and Stanley Cayre, acted as exclusive advisors to Lincoln Equities Group. They successfully raised $46.5 million in joint venture equity from RWN Real Estate Partners and Avenue Realty Capital, alongside $75 million of debt from TPG Real Estate Credit.
Ocean Gate is a purpose-built condominium currently operating as a rental community, with strong potential for conversion to for-sale units. Lincoln Equities Group plans to prepare and market the units for sale, capitalizing on the market’s supply and demand imbalance.
Mo Beler, senior managing director of New York Capital Markets, noted that Ocean Gate is uniquely positioned to benefit from strong local demand and limited for-sale inventory. Ari Shalam, managing partner at RWN Real Estate Partners, praised Walker & Dunlop's deep expertise and seamless execution in this complex transaction.
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