Press release

September 14, 2017

Walker & Dunlop Combines Capital Sources to Finance $26 Million Loan for Multifamily Property in San Bernardino

Bethesda, Maryland – September 14, 2017

Walker & Dunlop, Inc. (NYSE: WD) (the “Company”) announced today that it arranged a $26 million combination of bridge loan and joint venture equity financing for the acquisition of Ridgeline Apartments, a 160-unit, Class B apartment complex in San Bernardino, California. The Company’s Irvine-based Capital Markets team provided this comprehensive capital stack solution on behalf of repeat borrower, Crystal Asset Management.

The Walker & Dunlop team of Gregory Richardson, Mark Strauss, Scott Watson, and Rob Quarton executed the deal within a tight timeline, strategically exposing the opportunity to the capital markets to obtain the best terms and structure available. The financing solution included $7,688,000 of joint venture equity with a California-based private investor and a three-year, interest-only bridge loan for $18,525,000 with a regional bank.

Sol Rabin, Principal of Crystal Asset Management, remarked “This was a smooth transaction from start to finish for both the joint venture financing and the debt. I’ve never experienced customer service that rivals Walker & Dunlop’s.”

Mr. Quarton commented, “There is currently a void in the market for joint venture equity in the $5 to $10 million range for strong sponsors. Our team was able to satisfy a need in this niche by using our extensive network to find an ideal partner on both economic terms and cultural viewpoint. This aligns with our mission to find the best joint venture partners and lenders available for commercial real estate entrepreneurs. Our clients are consumed with acquiring new deals or managing their current investments. We alleviate the burden of finding new capital relationships, which frees up their time to do what they love: running the core elements of their business.”

Mr. Strauss added, “We listen to our clients’ needs and design capital stacks that align with their requirements and the market’s current availability. Our ability to communicate the transaction’s strengths to the capital markets and attract multiple lending sources typically results in lowering the cost of capital, providing more favorable terms and thereby increasing profitability to our clients.”


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