Walker & Dunlop, Inc. has arranged a $285 million bridge loan for Greenpoint Central, a 473‑unit Class‑A multifamily development in Brooklyn’s Greenpoint neighborhood. The loan, sourced from TPG Real Estate Credit, will refinance the construction loan, provide reserve funding, and enable the return of equity to Madison Realty Capital’s investors.
Greenpoint Central sits at 75 and 65 Dupont Street and includes 19,589 square feet of retail space. The project offers studio, one‑ and two‑bedroom apartments, with a 70/30 split between market‑rate and affordable units. The affordable portion is backed by the Affordable New York 421(a) Option C program and the city’s Inclusionary Housing requirement.
Walker & Dunlop’s Capital Markets Institutional Advisory team secured the facility, underscoring the firm’s ability to mobilize large bridge loans for high‑profile multifamily assets. The transaction follows a strong 2024 performance, with Q4 transaction volume of $13.4 billion and revenue of $341.5 million, reflecting a 45 % year‑over‑year increase in volume and a 24 % rise in revenue.
TPG Real Estate Credit, a leading real‑estate credit investor, provided the loan, adding depth to the financing structure. The partnership highlights TPG’s focus on high‑quality multifamily assets in growth markets and its capacity to support projects that blend market‑rate and affordable housing.
The bridge loan positions Greenpoint Central for a timely close, allowing Madison Realty Capital to strengthen its capital structure and fund ongoing construction. The deal also signals Walker & Dunlop’s continued dominance in arranging capital for Brooklyn’s premium multifamily market, where demand remains robust amid limited new supply.
By financing 30 % affordable units, the project contributes to Brooklyn’s housing mix and aligns with city goals to increase affordable housing stock. The loan’s support for reserve funding and equity return also enhances the project’s financial resilience, positioning it for long‑term stability in a competitive market.
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