Case Study: InterVest Capital Partners achieves record office-to-residential conversion financing with Walker & Dunlop

InterVest Capital Partners closes a $778.6 million construction loan with Walker & Dunlop

The customer, InterVest Capital Partners, a global alternative investment manager and repeat client, faced the challenge of securing financing for the redevelopment of 111 Wall Street, the largest single-building office-to-residential conversion in U.S. history. Walker & Dunlop Capital Markets Institutional Advisory was engaged to arrange the complex, large-scale financing for this adaptive reuse project.

Walker & Dunlop arranged a $778.6 million non-recourse construction loan, which formed the majority of the project's $867 million total capitalization. The solution involved sourcing multiple competitive bids and structuring a deal that integrated an existing C-PACE loan. The result was the successful financing of a 30-story luxury residential community with 1,568 rental units, 25% of which are designated as affordable housing. This transaction by Walker & Dunlop extended the functional life of a legacy urban asset while addressing housing supply constraints.

InterVest Capital Partners