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Walker & Dunlop Secures $101.5M Refinancing for 312-Unit Enclave Heritage Flats

Walker & Dunlop arranges a $101.5M HUD Section 223(f) refinancing for the 312-unit Enclave Heritage Flats multifamily community in Chula Vista.

By Colin Percy · May 27, 2026

Walker & Dunlop has secured $101,561,900 in financing to refinance Enclave Heritage Flats, a 312-unit multifamily property located in Chula Vista, California. The loan was provided through the U.S. Department of Housing and Urban Development’s Section 223(f) program and replaces debt previously arranged by Walker & Dunlop in 2024.

The transaction was managed by a team from Walker & Dunlop’s Capital Markets Real Estate Finance and Affordable Housing divisions, led by Gregory Richardson and Jeff Kearns on behalf of the property owner, The Baldwin Company. The HUD Section 223(f) program provides long-term, fixed-rate financing for institutional-quality multifamily assets.

Companies mentioned

owner

The Baldwin

other

Walker & Dunlop

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