Bethesda, Maryland – August 10, 2017
Walker & Dunlop, Inc. (NYSE: WD) (the “Company”) announced today that it closed 13 loans totaling $96,000,000 for a portfolio of industrial properties in Florida with one of its life company correspondents.
This portfolio included 13 properties throughout Miami and Fort Lauderdale, and closed within an expedited timeline of 45 days. The portfolio includes 1,568,297 square feet of space and over 120 tenants.
Senior Vice President, David Gahagan and Senior Analyst, Niki Perez led the origination team. Mr. Gahagan commented, “Walker & Dunlop was able to provide the borrower with an excellent loan which addressed their requirements for proceeds, cash flow enhancement, and an attractive interest rate.”
The Miami-Dade area is an emerging gateway market that is experiencing significant investor interest in industrial properties. Demand is being driven by a combination of factors including: regional population growth; the expansion of the Miami International Airport and the Port of Miami; and the addition of distribution facilities for international shippers to supply online retailer, construction, and services industries.
The portfolio reflects a national need for industrial financing, a sector where Walker & Dunlop has significantly increased its presence. In 2016, Walker & Dunlop closed 62 industrial property loans totaling over $549 million. The Company has shown strong growth in the first half of 2017, nearly surpassing the number of loans and total volume for this property type completed during 2016.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate services and finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has over 600 professionals in 28 offices across the nation with an unyielding commitment to client satisfaction.