Capital Markets Team Tops $109 Million in Land and Multifamily Development Financing for High-Demand Markets
Nov. 14, 2017
Bethesda, Maryland – November 14, 2017
Walker & Dunlop, Inc. (NYSE: WD) (the “Company”) announced today that Gabriel Weinert, senior vice president in the Company’s Capital Markets group, has led his team in structuring a total of $109,342,593 in loans and equity for several land and multifamily development properties across California, Louisiana, and Texas.
The Capital Markets team is based in Los Angeles and specializes in loan origination, structured financing, and co-investment opportunities for all property types, including development projects. Nine of the 11 properties within the portfolio are located in California and property types include conventional multifamily, and multifamily development.
While every transaction in the portfolio utilized a capital markets execution, each property was unique and required a tailored finance solution from a different capital provider. The team’s deep understanding of the capital stack and extensive network of lenders allowed them to meet each of their clients’ equity, bridge, and construction loan needs.
These projects address a critical demand for supply of mid-level multifamily and for-sale housing. In the past few years, homeownership rates have dipped significantly due to escalating housing prices in the market. In California specifically, just over half of all households own their homes – the third lowest rate in the country.1 According to a recent Freddie Mac survey, both multifamily and single-family renters believe renting is more affordable than owning a home, which may help explain why residents are flocking to multifamily options.2
Mr. Weinert commented, “As the need for multifamily housing has risen throughout the United States, we have confidence that these are sound investments for our clients.” Adding that, “These projects included land acquisition, multifamily construction financing, for-sale condominium construction, and acquisition/rehab financing. We are pleased that our expertise in the land and multifamily development asset classes has allowed us to expand our geographic reach.”
Walker & Dunlop, a leader in the conventional multifamily lending space, ranks within the top five largest multifamily lenders with Fannie Mae, Freddie Mac, and HUD. The Company’s Capital Markets brokers specialize in placing debt via non-Agency lending sources as well, having completed over $1.4 billion in loan volume for multifamily properties in the first half of 2017. For more information on Walker & Dunlop’s financing options, visit our newly redesigned website.
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.
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