BETHESDA, Md.--(BUSINESS WIRE)--May 26, 2026--
Walker & Dunlop, Inc. announced today that it has arranged a $101,561,900 loan to refinance Enclave Heritage Flats, a 312-unit multifamily community in Chula Vista, California.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260526977908/en/
Walker & Dunlop Capital Markets Real Estate Finance and Walker & Dunlop Affordable Housing, led by Gregory Richardson and Jeff Kearns, arranged the financing on behalf of the client, The Baldwin Company. The loan was secured through the U.S. Department of Housing and Urban Development’s HUD Section 223(f) program and refinances existing debt Walker & Dunlop arranged in 2024.
“Enclave Heritage Flats is an excellent example of how the HUD Section 223(f) program has become an increasingly efficient and attractive execution for high-quality multifamily assets,” said Richardson, managing director of Capital Markets Real Estate Finance at Walker & Dunlop. “The ability for borrowers to secure long-term, fixed-rate financing with attractive leverage and increased certainty of execution is incredibly valuable, particularly for well-performing institutional-quality assets like Enclave Heritage Flats. We are proud to once again partner with The Baldwin Company and deliver another successful outcome that supports the property’s long-term strategy.”
Enclave Heritage Flats features a mix of one-, two-, and three-bedroom apartment homes with contemporary finishes and modern layouts designed for both comfort and functionality. Community amenities include a fitness center, resort-style swimming pool, movie screening theater, coworking spaces, outdoor gathering areas and pet-friendly accommodations. The property is managed by Baldwin Asset Management.
“Enclave Heritage Flats represents a long-term investment in one of the fastest-growing and most dynamic submarkets in Southern California,” said Danielle Baum, vice president of finance at The Baldwin Company. “The property continues to perform exceptionally well due to strong resident demand, its high-quality amenity offering and the continued growth throughout the Chula Vista and greater San Diego markets. We appreciate Walker & Dunlop’s guidance and expertise throughout the financing process and value the team’s ability to execute efficiently in a changing market environment.”
Located within the Otay Ranch Village II area of Chula Vista, Enclave Heritage Flats is approximately 16 miles southeast of downtown San Diego. The property spans approximately 7.7 acres and offers convenient access to hiking trails, parks, dining, shopping, schools and recreational destinations throughout the greater San Diego area. The surrounding submarket has experienced significant residential and commercial growth in recent years, driven by continued population expansion, strong employment fundamentals and proximity to the U.S.-Mexico border and downtown San Diego.
Walker & Dunlop Capital Markets Real Estate Finance, led by Gregory Richardson, previously arranged an $81 million bridge-to-HUD loan for the property in December 2024, with capital provided by Walker & Dunlop Investment Partners, led by Andrew Yaroma, Kimberly Schmitz and Terri Magnani.
Walker & Dunlop is a leading HUD lender, ranked #5 based on MAP (Multifamily Accelerated Processing) and LEAN volume in 2025. Since inception, the firm’s FHA/HUD platform has closed $45 billion across more than 2,000 transactions and continues to deliver consistent results, with a 99% approval rate since 2021. To learn more about our capabilities and financing solutions, visit our website.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.
Enclave Heritage Flats. Photo Credit: The Baldwin Company
PARIS (AP) — Tennis players at the French Open say they haven’t experienced conditions this hot at Roland Garros since the Paris Olympics.
And the 2024 Olympics were held in July and August.
Temperatures for the opening two days of the clay-court Grand Slam have soared to 33 degrees C (91 F) — far beyond normal for late May in the French capital. And it’s forecast to stay that way for the entire first week.
Besides making it uncomfortable for fans and players alike, the sultry conditions have also created faster conditions on court — changing the pace of the game.
“It is much different. Maybe it was that hot in the Olympics but the balls were different, so I wouldn’t treat it as the same tournament,” four-time French Open champion Iga Swiatek said after routing Emerson Jones 6-1, 6-2 in the first round on Monday.
Players have been putting bags of ice around their necks on changeovers to stay cool, while fans refreshed themselves under sprinklers.
When workers water the clay courts between sets, they have taken to directing their hoses at spectators begging to be doused, too.
“I don’t remember the last time it was so hot at Roland Garros,” Russian-born Australian player Daria Kasatkina said after beating Zeynep Sonmez 6-4, 6-4. “Maybe one day. But we’re going to have it for the whole week.”
Kasatkina said the energy-sapping temperatures made for more up-and-down matches.
“You can suddenly just get out of the bench and feel that your focus dropped,” she said. “So this is a battle which you have to also win. … Whoever adapts better to today’s conditions gets it.”
Canadian player Gabriel Diallo said the heat was the main reason why he retired midway through his match against James Duckworth on Sunday.
Both Andrey Rublev and opponent Ignacio Buse called for the trainer on separate occasions during the second set of their 3-hour, 39-minute match on Monday, which Rublev won in four sets.
Buse took a medical timeout and had salts and minerals added to his water bottle as a stethoscope was placed on his chest. Rublev received treatment a few games later.
Also during the same match, a weary looking ball girl had to be helped off the court and received medical attention.
The French Open is usually cool compared to the heat at the Australian Open and U.S. Open.
But like in Australia and New York, the French Open has adopted an extreme weather policy.
If the Wet Bulb Globe Temperature (WBGT) — which takes into account temperature, humidity, sun, wind and other factors — reaches 30.1 degrees C (86 F) or higher, 10-minute cooling breaks can be installed between the second and third sets for women’s matches and between the third and fourth sets for men’s matches.
If the WBGT hits 32.2 C (90 F), play is suspended. It would require an air temperature of about 38 C (100 F) for play to be suspended.
Some players were embracing the hotter air.
“I’ve always preferred hot and lively conditions to chilly on a clay court, because I feel like I can bring a little bit more of my all-court tennis on this type of surface,” Australian player Alex de Minaur said after beating Toby Samuel 6-4, 6-4, 6-2.
“It’s easier to be a little bit more aggressive. The ball is jumping. I don’t necessarily have to use as much spin or heaviness, and I can let the conditions do the job for me. And it’s quite physical. I don’t mind the heat,” De Minaur added.
Same goes for American player Alex Michelsen, who eliminated Alexander Shevchenko in straight sets.
“It’s definitely good for us Americans,” Michelsen said. “Generally we’re big serve, big forehand, big ground game and like to play offense. When it’s super hot, the ball is moving through the air very fast. … I was so happy when I saw the forecast.”
AP tennis: https://apnews.com/hub/tennis
Spectators watch the first round men's singles tennis match between Casper Ruud of Norway and Roman Safiullin of Russia at the French Open tennis tournament in Paris, Monday, May 25, 2026. (AP Photo/Aurelien Morissard)
A stadium worker sprays the court with water before the first round men's singles tennis match at the French Open tennis tournament in Paris, Monday, May 25, 2026. (AP Photo/Aurelien Morissard)
Visitors cool themselves with water from sprinklers during a hot day at the French Open tennis tournament in Paris, Monday, May 25, 2026. (AP Photo/Aurelien Morissard)
A woman cools herself with a portable fan during the first round men's singles tennis match between Alex De Minaur of Australia and Toby Samuel of Britain at the French Open tennis tournament in Paris, Monday, May 25, 2026. (AP Photo/Christophe Ena)
Spectators cool themselves with hand fans during the first round women's singles tennis match between Elina Svitolina of Ukraine and Anna Bondar of Hungary at the French Open tennis tournament in Paris, Monday, May 25, 2026. (AP Photo/Christophe Ena)
Poland's Iga Swiatek gestures for a ballboy as he shields her from the sun during a break at the first round women's singles tennis match against Emerson Jones of Australia at the French Open tennis tournament in Paris, Monday, May 25, 2026. (AP Photo/Thibault Camus)
Visitors cool themselves with water from sprinklers during a hot day at the French Open tennis tournament in Paris, Monday, May 25, 2026. (AP Photo/Christophe Ena)
Alex De Minaur of Australia attends a break during the first round men's singles tennis match against Toby Samuel of Britain at the French Open tennis tournament in Paris, Monday, May 25, 2026. (AP Photo/Christophe Ena)
