RICHMOND, Va. — Walker & Dunlop, Inc. has arranged $86.5 million in bridge financing for Chasen, a newly completed 352-unit multifamily community in Richmond, Virginia’s Scott’s Addition neighborhood, on behalf of real estate investment firm Capital Square.
The variable-rate, interest-only loan was arranged by Walker & Dunlop Capital Markets Real Estate Finance through a private credit lender. The transaction team included Alexandra Huffman, Justin Nelson, Andrew Tapley, PJ Feichtmeier, Eric Norris and Jared Diedrich.
Located in a Qualified Opportunity Zone, Chasen is part of a designated area eligible for certain tax incentives under the federal economic development program established by the Tax Cuts and Jobs Act of 2017. The programme aims to encourage long-term investment in designated low-income communities.
“Chasen is a newly completed asset in one of Richmond’s most active neighborhoods, and this financing gives Capital Square flexibility as the property continues to build its operating history,” said Alexandra Huffman, managing director of Capital Markets Real Estate Finance at Walker & Dunlop. “We were pleased to deliver a financing solution that supports Capital Square’s long-term plans for the property and positions Chasen for continued success.”
Completed in phases between late 2025 and early 2026, Chasen comprises three residential buildings ranging from six to seven stories across 2.45 acres. The development offers studio, one-bedroom, two-bedroom and three-bedroom apartments, alongside more than 5,000 square feet of ground-floor retail space.
The community’s amenities include a resort-style swimming pool, fitness centre, rooftop terrace, club room featuring a golf simulator, whiskey lounge, co-working centre, dog wash station and landscaped courtyards featuring native Virginia plants.
The property was also recently recognised as one of Virginia’s top projects by Virginia Business.
Natalie Mason, executive vice president and co-head of development at Capital Square, said the development was positioned to become a significant long-term asset in Richmond’s growing residential market.
“Chasen is poised to become a premier, generational asset within Richmond,” Mason said. “Strategically located near the intersection of North Arthur Ashe Boulevard and Broad Street (U.S. 250), Chasen sits at the premier access point to the burgeoning Scott’s Addition neighborhood. We appreciate Walker & Dunlop’s work on this financing and their support of our strategy for the property.”
Chasen is located in Scott’s Addition, a former industrial district that has evolved into a walkable, mixed-use neighbourhood featuring breweries, restaurants, coffee shops, fitness studios and entertainment venues.
Its proximity to the junction of Interstates 64 and 95 provides access to downtown Richmond, the Fan and Museum districts, and major employment centres across the region.
The neighbourhood’s transformation into a mixed-use destination has helped establish it as an active market for residential development, making the location an important element of Chasen’s positioning.
The bridge financing is intended to provide Capital Square with flexibility as the recently completed property builds its operating history and advances its longer-term investment strategy.
The transaction adds to Walker & Dunlop’s financing activity in the commercial real estate market.
During the first half of 2026, the company’s Capital Markets team sourced more than $13.9 billion from non-Agency capital providers, including nearly $9.6 billion for multifamily properties.
The company works with developers, property owners and operators across asset classes to arrange financing through a broad network of capital providers.
The Chasen transaction highlights the role of private credit and bridge financing in supporting newly completed multifamily developments as they establish operating performance and pursue long-term investment objectives.
Walker & Dunlop, Inc. is a commercial real estate finance and advisory firm providing capital markets, investment sales, debt and equity financing, and other services to real estate owners and investors. Capital Square is a real estate investment and management firm focused on tax-advantaged real estate investment offerings and real estate assets across the United States.
