Walker & Dunlop Inc Stock Price, News & Analysis

Walker & Dunlop has expanded its Apprise appraisal business by adding Melissa Lofing as Managing Director to co-lead its Valuation for Financial Reporting practice. This group specializes in real estate valuations for financial reporting, leveraging technology and data for efficiency. Lofing brings over 20 years of experience from Cushman & Wakefield and KPMG, enhancing Apprise's capabilities in portfolio valuations. With an estimated $16 trillion in U.S. commercial real estate, the firm aims to increase its client base and streamline valuation processes across 40 states, targeting nationwide coverage by year-end.

Walker & Dunlop announced the addition of Senior Directors Bonnie Longo and Matt Heidt to its multifamily appraisal business, Apprise. Longo brings 22 years of experience focusing on multifamily assets in the Tri-State area, while Heidt has 15 years in multifamily and affordable housing appraisal for the Southeast. This expansion aims to enhance Apprise's valuation services with advanced analytics and a rapid appraisal process. Apprise serves over 40 states and completed appraisals for more than $70 billion in commercial properties annually, targeting nationwide coverage by the end of 2020.

Walker & Dunlop announced the structuring of $86 million in financing for two seniors housing properties. The loans include $45 million for Palo Alto Commons in California and $41 million for The Plaza at Moanalua in Hawaii. Both properties offer assisted living and memory care services. The financing was arranged with Freddie Mac, featuring attractive fixed rates. Despite challenges in the seniors housing sector due to COVID-19, Walker & Dunlop successfully closed these transactions, demonstrating strong market partnership.

Walker & Dunlop (NYSE: WD) hosted a virtual Investor Day to unveil its Drive to '25 strategy and set ambitious five-year targets. CEO Willy Walker highlighted the company's growth principles centered on people, brand, and technology. Key targets for 2025 include:

• Annual Debt Financing Volume: $65B+
• Annual Property Sales Volume: $25B+
• Annual Revenues: $1.7 to $2.0B
• Annual Diluted EPS: $13.00 to $15.00/share
• Annual Adjusted EBITDA: $525 to $575 million

The initiative aims to enhance profitability and create long-term shareholder value, emphasizing a commitment to ESG initiatives.

Walker & Dunlop completed the $32,250,000 sale of The Mariner, a Class A apartment community in Port Chester, New York. Opened in 2012, the LEED Silver Certified property features 100 spacious units with premium amenities. Managed by Thomas Walsh and Joseph Garibaldi, the sale was facilitated for institutional investors advised by J.P. Morgan Asset Management. The Mariner is noted as a premier asset in Westchester County, ideally located near transportation and recreational facilities.

Walker & Dunlop announced $14,120,000 in Fannie Mae financing for the acquisition of Blackbob Court Townhomes in Olathe, Kansas. The property, consisting of 161 apartment units across 41 buildings, is part of the affordable housing sector. The financing was arranged by Managing Director Dustin Swartz and Senior Analyst Karl Rincavage, utilizing Fannie Mae's Green Rewards Program. Vazza Real Estate Group, the borrower, is expanding its multifamily portfolio in the Kansas City area, having acquired 1,200 apartments in 2020 amid historically low interest rates.

Walker & Dunlop has secured $84,375,000 in financing for The Residences at Annapolis Junction, a 416-unit Class A apartment community in Maryland. This LEED Gold-certified property, established in 2018, is located strategically between Baltimore and Washington, D.C. The financing is a ten-year non-recourse loan from Freddie Mac, replacing a previous bridge loan. This move demonstrates Walker & Dunlop's commitment to addressing client needs and effective structuring of financial solutions. The company ranks as the 3rd largest Freddie Mac lender and holds a 13% market share as of September 2020.

Walker & Dunlop, in collaboration with Project Destined and Greystar, has launched a new paid internship program aimed at students from diverse backgrounds in Durham, North Carolina. The three-year initiative offers students from middle school to university the chance to gain real-world experience in commercial real estate through live transactions. The program emphasizes educational access, with interns dedicating up to 40 hours per semester to develop technical and leadership skills, culminating in a presentation of investment opportunities to industry leaders.

Walker & Dunlop announced a virtual Investor Day scheduled for December 10, 2020, at 10:00 a.m. Eastern Time. The event will outline the company's vision for the next five years and include presentations and a Q&A session with senior management. Analysts and investors can access the event via webcast or dial-in. The company, listed on the NYSE as WD, is a leading commercial real estate finance firm in the U.S., offering capital solutions across various asset classes.