GLOSSARY

Glossary of commercial 
real estate terms

Welcome to the Walker & Dunlop Glossary of Commercial Real Estate Terms.

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A very tall building with a sky in the background.

We created this glossary to define and explain a collection of terms and acronyms in everyday use within commercial real estate and finance. As our industry continues to evolve and grow, so will our glossary.

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Terms & Definitions

Terms

Definitions

Investment Sales

Walker & Dunlop Investment Sales (WDIS)

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W&D’s team that provides investment sales, equity placement, and advisory services, including property analysis, financing, and servicing.

Finance

Walker Private Lending

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A non-recourse loan program by W&D and Kayne Anderson Real Estate focused on full- term, interest-only loans starting at $2 million, expanding W&D’s direct lending capabilities.

W&D Miscellaneous

Walker Way

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This is what drives Walker & Dunlop. It is our values and how our team behaves: Caring, Collaborative, Driven, Insightful, and Tenacious.

W&D Miscellaneous

Walker Webcast

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A weekly webcast by W&D Chairman and CEO Willy Walker, featuring prominent figures from entertainment, sports, business, academia, and beyond.

Affordable Housing

W&D Affordable Equity (WDAE)

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Formerly known as Alliant Capital, our Affordable Equity team syndicates tax credits for the development and financing of affordable multifamily rental housing in the U.S. It is an important part of W&D’s strategy to provide a full spectrum of affordable housing services under one roof. W&D Affordable Equity finances the creation and renovation of affordable housing by partnering developers with investors through the LIHTC program.

Capital Markets

W&D Capital Markets

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W&D’s team of mortgage bankers/brokers that act as trusted advisors on all asset classes for many of the industry’s top developers, owners, and operators and a trusted resource for our capital providers.

Finance

W&D Multifamily Finance (MFF)

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W&D’s team that originates, underwrites, closes, and services loans to multifamily owners. The #1 government-sponsored enterprise (GSE) lender with access to Fannie Mae & Freddie Mac financing.

Finance

W&D Small Balance Lending

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W&D’s team that originates, underwrites, closes, and services small balance loans (defined as 5-50 units or under $10M) for multifamily properties.

WDSuite

WDSuite

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Walker & Dunlop’s digital experience.

WDSuite provides property and market research capabilities for commercial real estate professionals. It integrates unique data and advanced analytics to support smarter decisions.

Housing and Property Types

Workforce Housing

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Housing targeted at middle-income earners, such as teachers or public service workers, typically earning 60%-120% of area median income (AMI).

Financial Terms

Yield

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Yield refers to the annual investment return from a property expressed as a percentage of the initial investment. Yield = Annual rental income/purchase price x 100. E.g., purchase price - $600K annual rental income = $23,400 Yield = 3.9%.

Research and Investment Banking

Zelman Equity Research

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W&D’s equity research team that provides extensive macro, sector, and company- specific equity research, proprietary industry surveys, stock recommendations, and insights leveraging our constant flow of real-time data.

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