Walker & Dunlop Arranges $109.9M Wells Fargo Financing for 560-Unit Franklin, Tennessee Multifamily Community

FRANKLIN, Tenn. — Walker & Dunlop, Inc. announced Nov. 2 that it has arranged $109.9 million in acquisition financing for Wyndchase Aspen Grove, a 560-unit multifamily community in Franklin, Tennessee. The financing was provided by Wells Fargo.

Walker & Dunlop's Capital Markets Real Estate Finance group arranged the transaction on behalf of an institutional client. The loan is a floating-rate, interest-only acquisition financing. The financing followed the property's $128.11 million acquisition by Waterton, equal to approximately $228,800 per unit. The loan represents approximately 85.8% of the purchase price, or about $196,250 per unit.

Walker & Dunlop and Wells Fargo Financing Structure

Allan Edelson, Justin Nelson, Jeremy Seid, Joe Tarantino and PJ Feichtmeier arranged the financing for Walker & Dunlop. Edelson is senior managing director of Capital Markets Real Estate Finance at the firm.

"Wyndchase Aspen Grove's prime location, low-density layout, and strong market fundamentals made it an attractive financing opportunity," Edelson said. "We worked closely with Wells Fargo to arrange floating-rate, interest-only financing that provides our client with flexibility as they execute their business plan. The transaction reflects our ability to deliver competitive financing solutions for institutional clients in sought-after multifamily markets."

Floating-rate, interest-only debt generally results in lower initial debt service for a borrower, while leaving the borrower exposed to interest-rate movements and future refinancing conditions.

Wyndchase Aspen Grove Property Details

Wyndchase Aspen Grove is located at 3100 Aspen Grove Drive in Franklin and was built in 1997. The community comprises 33 residential buildings on more than 60 acres of green space. Residences average 1,091 square feet and include one-, two- and three-bedroom units, including townhome-style options.

Amenities include two swimming pools with sundecks, a 24-hour fitness center, a clubhouse with a game room, outdoor gathering areas, grilling stations, a cybercafé, a playground, a dog park and a pet wash station.

Franklin and Williamson County Location

The property sits in Franklin's established Aspen Grove/Cool Springs corridor, with access to major employment centers, retail, dining, entertainment and healthcare destinations. Interstate 65 connects residents to the broader Nashville metropolitan area.

The community is in Williamson County, which Walker & Dunlop described as one of Tennessee's most affluent and fastest-growing counties, known for strong household incomes, highly rated schools and a well-educated workforce.

Nashville Multifamily Market Context

The Nashville multifamily market has been moving toward better supply-demand balance after a substantial delivery cycle. In the second quarter of 2026, absorption of 2,755 units exceeded deliveries of 1,189 units, while vacancy declined to 5.4% from 6.21% in the prior quarter. Another report recorded vacancy at 7.8% and trailing-12-month absorption of roughly 8,900 units, exceeding deliveries by 11%.

New supply has also moderated. Third-quarter completions fell 42% year over year to 1,600 units, while trailing-12-month completions declined 39% to 5,513 units. Asking rents were approximately $1,622 in the third quarter, down 0.2% year over year and 3.9% below the 2022 peak. Another survey placed rents at $1,638 and vacancy at 9.2%, reflecting differing methodologies and submarket coverage among research firms.

Nashville multifamily cap rates ranged from approximately 5.1% to 5.8% in 2026, depending on the quarter, source and asset mix. Multifamily sales volume reached approximately $1.8 billion in the third quarter, up 28%.

Walker & Dunlop Capital Markets Activity

Walker & Dunlop said its Capital Markets team sourced more than $13.9 billion from non-Agency capital providers in the first half of 2026, including nearly $9.6 billion for multifamily properties. The firm (NYSE: WD) describes itself as one of the largest commercial real estate finance and advisory services firms in the United States and internationally.

Sources

• Walker & Dunlop: https://www.walkerdunlop.com/news/110-million-financing-multifamily-tennessee