Walker & Dunlop has reached $1 billion in total balance sheet loan originations and preferred equity investments over the past four years, the company announced this week.
Since starting its balance sheet lending in 2012, the real estate investment firm has provided bridge loans and preferred equity investments to 61 multifamily properties across the US, including student and senior housing. The company has placed permanent financing on over 80 percent of the loans that have been repaid to date.
Walker & Dunlop’s lending operations hasveprimarily served clients in acquiring or repositioning properties that are ineligible for permanent financing through Fannie Mae, Freddie Mac or HUD. As of September 30, 2016, the balance of the firm’s loan portfolio was $265 million and the balance of the preferred equity investments was $15.5 million.
Jeff Goodman, EVP at Walker & Dunlop, said in a statement that the company is currently focused on building an asset management business that will move its lending and preferred equity investments off-balance sheet to expand the types of loans the company provides.
The Maryland-based firm’s most recent financing was a $13.6 million 18-month, interest-only bridge loan on Amber Gardens in Tempe, Arizona to a undisclosed long-term client, which will complete the acquisition and renovation of the Class B multifamily property.
This January, the firm closed the largest financing in its history, a $1.27 billion Freddie Mac refinancing on a senior housing portfolio.