Walker & Dunlop Secured $86M Loan for Queens Housing

The firm arranged Freddie Mac financing to refinance a four-building portfolio in New York City.

Updated on Oct. 8, 2026 in Corporate Finance

Exterior view of a traditional red brick apartment building with black iron fire escapes in a dense New York City neighborhood. — Walker & Dunlop finalized an $86.4 million Freddie Mac loan to refinance a 506-unit residential portfolio managed by Iris Holdings Group in Queens. AI Illustration. Upload story photo >

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Walker & Dunlop has finalized an $86.4 million loan to support a 506-unit housing portfolio in Queens. The financing refinances existing debt while maintaining long-term rent affordability for the complex.

Why it matters

This deal provides capital to sustain housing stability across 481,000 square feet of residential space. It follows a capital improvement program designed to upgrade building systems and individual units.

The $86.4 million Freddie Mac loan covers a four-building portfolio totaling 481,000 square feet. The agreement ensures affordability levels for 40 years.

The players

Walker & Dunlop

This real estate finance company provides commercial real estate lending and brokerage services across the United States.

Freddie Mac

This federally chartered corporation supports the U.S. housing market by providing liquidity and stability to the mortgage industry.

Iris Holdings Group

This investment group focuses on residential property acquisition and the preservation of affordable housing assets.

New York City Department of Housing Preservation and Development

This municipal agency is responsible for the development and maintenance of affordable housing initiatives throughout the city.

The details

The sponsor, Iris Holdings Group, completed extensive upgrades to both building-wide systems and individual units prior to securing this financing. The transaction utilizes agency lending structures to ensure the properties remain a long-term affordable housing asset.

Iris Holdings Group formed a preservation partnership with the city in 2024.
The affordability commitment for the project spans the next 40 years.

Market Landscape

This deal reflects a broader trend of private investors partnering with public agencies to secure long-term capital for rent-stabilized assets. It positions the firm within the competitive landscape of New York City multifamily finance.

This financing ensures that 506 residential units in the neighborhood will remain under affordable rent structures for the next four decades. Tenants can expect continued stability in housing costs as a result of these long-term preservation agreements.

The takeaway

Large-scale institutional financing continues to play a vital role in keeping multifamily housing accessible in urban markets. Developers and residents alike rely on these long-term agreements to insulate the local housing supply from broader market volatility.