COLUMBIA, S.C. — Walker & Dunlop has arranged $62 million in debt and equity financing for the construction of Burnside Farms Apartments in Columbia. Jamie Butler, Cliff Ayers, Michael Bowles and Jason McFadden of Walker & Dunlop arranged the non-recourse financing on behalf of the borrowers, South Coast Property Investments and Abacus Capital.
Burnside Farms Apartments will comprise 308 apartments. A portion of the community will be set aside as affordable housing, but the number of units and income restrictions for the affordable units were not disclosed. The property will be situated at the intersection of Cliff Kinder and Pineview roads within the Burnside Farms master-planned community. South Coast Property Investments and Abacus Capital plan to break ground on the project in June.