Walker & Dunlop Inc Stock Price, News & Analysis

Walker & Dunlop has expanded its multifamily property sales capabilities by hiring a new team in Chicago. This team, comprising Managing Directors Todd Stofflet and Jason Stevens, along with Associate Director Brad Smith, will focus on marketing and sales in the Midwest. They bring a combined experience of $3.2 billion in property sales from their previous positions at Cushman & Wakefield. The company aims to grow its annual property sales volume to $25 billion by 2025, enhancing its market presence despite challenges faced in 2020.

Walker & Dunlop has successfully brokered the sale and secured acquisition financing for the Collection at Overlook, a 411-unit multifamily property in San Antonio, Texas. The transaction involved a collaborative effort from multiple teams within Walker & Dunlop, showcasing their robust operational capabilities. The financing through Freddie Mac's Green Advantage includes a low-rate ten-year term with five years of interest-only payments, enabling unit renovations for 304 units to enhance the property's value. This deal underlines Walker & Dunlop's position as a major player in the commercial real estate finance sector.

On December 17, 2020, Walker & Dunlop announced a joint venture for the acquisition and development of 5000 Richmond Street in Philadelphia. This 69-acre parcel aims to meet the rising demand for last-mile distribution centers due to increasing e-commerce. The project, projected to cost over $115 million, will feature approximately 733,800 rentable square feet of Class A industrial space. Walker & Dunlop's New York City Capital Markets team played a crucial role in securing equity funding, illustrating the firm’s strong positioning in industrial real estate finance.

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.