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By: Daily Record Staff July 27, 2022

The Verona at Landover Hills is a multifamily property constructed in 1966 and consists of 25, four-story buildings with 91 separately addressed entryways on 29.96 acres. It features luxury unit upgrades including new stainless-steel appliances and upgraded cabinetry/countertops. (Submitted photo)

Bethesda-based Walker & Dunlop Inc., a provider of capital to the commercial real estate industry, announced Wednesday it structured $105 million in financing for The Verona at Landover Hills, a 727-unit property in Prince George’s County.

Walker & Dunlop’s John E. Gilmore IV, Jessica Deeney and Karl F. Rincavage represented the buyer, a joint venture between Dantes Community Partners and the Urban Investment Group within Goldman Sachs Asset Management, in the acquisition of the property.

This transaction represents the third acquisition of the NORE Fund I, LP, a newly formed fund managed by Dantes Partners and their co-development firm. Additionally, the transaction represents an investment towards Goldman Sachs’ One Million Black Women initiative, a $10 billion investment strategy to narrow opportunity gaps for Black women in the next decade.

The property operated as a market-rate community, but entered into a Rental and Regulatory Agreement with Prince George’s County Department of Housing & Community Development at closing. New affordability restrictions were placed on the property upon acquisition. John Gilmore and his team structured the acquisition financing through Fannie Mae’s Multifamily Affordable Housing platform.

The Verona at Landover Hills is a multifamily property constructed in 1966 and consists of 25, four-story buildings with 91 separately addressed entryways on 29.96 acres. It features luxury unit upgrades including new stainless-steel appliances and upgraded cabinetry/countertops.

The property is located within two miles of the DC Metro’s Orange Line at Landover Metro Station, MD-450, US Route 50, Interstate 95, Interstate 495, and other major transit routes. Nearby amenities include Crestview Shopping Center, Walmart, a public park, and the University of Maryland, College Park campus.

Tagged with: Prince George's County

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