Post District is a three-phase project that encompasses 580 housing units. Credit: Walker & Dunlop/Business Wire.

US-based commercial real estate finance company Walker & Dunlop has arranged $157.5m in loan proceeds to refinance Post District, a Class A mixed-use development in downtown Salt Lake City, Utah, US.

The loan was co-originated with capital market company Affinius Capital and real estate investment company Clarion Partners by Walker & Dunlop’s New York Capital Markets team.

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It was arranged on behalf of Bridge Investment Group and Lowe Property Group. It will be used to repay current debt, cover future construction expenses, and repatriate equity.

Post District is a three-phase project that includes 580 housing units spread across four buildings, along with approximately 26,000ft² of rentable retail space.

Walker & Dunlop Capital Markets managing director Sean Reimer said: “Post District will drive downtown Salt Lake City’s evolution, while the competitive financing package will unlock immediate value for the future of the sponsor’s opportunity zone platform.”

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Post District is an easily accessible commercial and residential corridor located in Salt Lake City.

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Designed by MVE+Partners, the project’s architecture, large apartments, and community facilities intend to cater to the growing number of young professionals and families moving to downtown Salt Lake.

Affinius Capital managing director Tom Burns said: “The property features multiple buildings that cater to different tenant profiles and has leased up extremely well due to the high-quality amenities and mixed-use nature of the project encompassing an entire city block.”