Walker & Dunlop Arranges $86.5 Million Bridge Loan for Capital Square's Chasen in Richmond's Scott's Addition

RICHMOND, Va. — Walker & Dunlop, Inc. announced Oct. 7 that it has arranged $86.5 million in bridge financing for Chasen, a newly completed, 352-unit multifamily community in the Scott's Addition neighborhood of Richmond, Virginia. The firm arranged the loan on behalf of sponsor Capital Square.

Walker & Dunlop's Capital Markets Real Estate Finance team placed the variable-rate, interest-only financing through a private credit lender. Alexandra Huffman, Justin Nelson, Andrew Tapley, PJ Feichtmeier, Eric Norris and Jared Diedrich arranged the transaction.

Walker & Dunlop Bridge Loan Details

The $86.5 million loan equates to approximately $245,739 per apartment unit. The financing is variable-rate and interest-only, and it was placed with 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."

Capital Square's Chasen Property in Scott's Addition

Chasen was completed in phases from late 2025 to early 2026. The community comprises three residential buildings of six and seven stories on 2.45 acres. The project's address is 2922 W. Marshall Street in Richmond.

The community offers studio, one-, two- and three-bedroom residences, along with more than 5,000 square feet of ground-floor retail. 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. Construction began in April 2023.

Chasen was 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."

Location and Opportunity Zone Status

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.

Scott's Addition is 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.

Bridge Financing and Capital Markets Context

Bridge financing of this kind is typically used for newly delivered properties that are still establishing an operating record. Walker & Dunlop said the loan gives Capital Square flexibility as Chasen builds its operating history following its phased delivery.

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.

Walker & Dunlop (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: Walker & Dunlop Arranges $87 Million Refinancing for Scott's Addition Property