Walker & Dunlop arranged $23.9 million in construction equity for Emberwood, an upcoming senior affordable housing project in Casa Grande, Arizona.

The Walker & Dunlop Affordable Equity team, led by Aaron Krasnow, secured the equity on behalf of client Roers Companies, with the deal involving a $23.9 million 4% LIHTC and REITC equity syndication.

Emberwood will be a senior living community designed for residents aged 55 and older. The 176-unit complex will be situated on 8.24 acres and feature a three-story low-rise building alongside a single-story community center. The development will offer 55 one-bedroom and 121 two-bedroom apartments, all accessible by elevator. Located next to a 55,000-square-foot community recreation center that opened in 2019, the site will also provide a variety of senior programs.

Roers Companies, a multifamily real estate firm, brings in-house development, construction, and property management expertise. The company has already completed or is in the process of building 13,000 units.

Headquartered in Bethesda, Maryland, Walker & Dunlop is one of the largest commercial real estate services and finance companies in the U.S., specializing in financing and investment sales for multifamily and commercial properties. The firm, part of the S&P SmallCap 600 Index, employs over 650 professionals across 29 offices, with a focus on client satisfaction.

Roers Companies, based in Minnetonka, Minnesota, is a leading multifamily real estate developer with over $1 billion in development over the last decade. With more than 5,000 units built across six states, Roers Cos. is on track to reach 20,000 units by 2025.