Walker & Dunlop, Inc. - WD STOCK NEWS

Walker & Dunlop has facilitated a significant real estate transaction in Miami's Edgewater neighborhood, arranging both the $190 million sale and $157 million financing of The Hamilton, a luxury bayfront high-rise. The 276-unit property was sold by Apartment Investment and Management Company (Aimco) to Kushner Companies, with financing provided by Apollo Global Management and Macquarie Group.

The Hamilton, originally built in 1984 and renovated in 2022, features spacious apartments averaging 1,373 square feet with exceptional private terraces averaging 326 square feet. The property stands out for its low density of 72 units per acre and is one of only two institutional-quality bayfront rental towers in Miami. Located in the growing Edgewater submarket, it offers residents premium bay views and easy access to Miami's major employment hubs.

Walker & Dunlop conducted its second annual survey among senior executives at the AHF Live conference, revealing key insights about affordable housing trends and policies. 94% of respondents support regional zoning policy changes to boost housing supply, while 84% oppose increasing trade tariffs for homebuilders.

On economic matters, 55% felt the Fed was effective in fighting inflation last year, though 75% expect more interest rate hikes. The survey shows increasing optimism for affordable housing investments, with 52% noting increased investments in the past year (up from 43% in 2023), and 70% expecting further growth in 2025.

Notably, 89% believe increased resources and supply can counter rising housing prices. The survey, conducted in November with 98-100 respondents, reflects a mix of optimistic and cautious views about the affordable housing sector's future.

Westlake (NYSE: WLK) has appointed Roger A. Cregg to its board of directors, replacing Marius A. Haas who retired effective December 10, 2024. Cregg, 68, brings extensive experience in homebuilding and other industries, having most recently served as President, CEO, and Director of AV Homes until its sale to Taylor Morrison Homes in 2018.

Cregg's background includes executive positions at ServiceMaster Company, PulteGroup, Zenith Electronics, and Sweetheart Cup Company. He currently serves on the boards of Comerica, Sterling Infrastructure, and Minto Group. He holds a B.S. in accounting from Northeastern University and an MBA from Northwestern University's Kellogg School of Management.

Walker & Dunlop has arranged the $185 million sale of Preserve at Melrose, a 410-unit multifamily community in Vista, San Diego. The transaction represents the second-largest single-asset deal in San Diego and the fifth-largest in California in 2024. The property, built in 2015, was sold by a local San Diego group to Mesirow.

The sale highlights San Diego's strong market position, accounting for 10% of all U.S. multifamily transactions over $150 million and 23% of those in California since 2023. The property is strategically located near downtown Vista and light rail stations, offering access to major employment hubs along State Route 78.

Walker & Dunlop has arranged a $148.5 million refinancing for Admirals Row, a 696,000 square foot mixed-use property in the Brooklyn Navy Yard. The property, developed by Steiner NYC, includes the first Wegmans supermarket in New York City, over 350,000 square feet of light industrial and creative manufacturing space, retail space, and parking facilities. The Walker & Dunlop New York Capital Markets team identified Deutsche Bank as the bridge loan lender. The Brooklyn Navy Yard hosts over 450 businesses, employs more than 12,000 people, and generates over $2 billion annually in economic impact for the city.

Walker & Dunlop has promoted Dan Groman to Executive Vice President, General Counsel, Secretary and Chief Compliance Officer, effective November 8, 2024. Groman, who served as Deputy General Counsel for the past 12 years, will oversee the company's legal and compliance groups. Prior to joining Walker & Dunlop in 2012, he held positions at Freddie Mac as Associate General Counsel and worked as an attorney at Arnold & Porter LLP. Groman holds degrees from the University of Maryland, including his Juris Doctor from the Francis King Carey School of Law.

Walker & Dunlop has secured $113 million in acquisition financing for Franklin 299, a Class-A multifamily property in the Bay Area. The financing was arranged for Acacia Capital through Fannie Mae, with the deal closing in just 19 days. The 304-unit property, built in 2015, features studio, one-, and two-bedroom residences, including 11 direct-access townhomes. Located in Redwood City between San Francisco and San Jose, the property offers premium amenities including a rooftop deck, fitness center, and swimming pool. The community's strategic location provides access to major employment centers in San Francisco, Oyster Point, the Peninsula, and Silicon Valley.

Walker & Dunlop (NYSE: WD) reported strong Q3 2024 results with total transaction volume up 36% to $11.6 billion. The company achieved total revenues of $292.3 million, up 9% year-over-year, and net income of $28.8 million, up 34%. Diluted earnings per share increased 33% to $0.85. The servicing portfolio grew to $134.1 billion, up 4% from the previous year. Property sales volume surged 44% to $3.6 billion, while debt financing volume increased 33% to $8.0 billion. The company declared a quarterly dividend of $0.65 per share for Q4 2024.

Walker & Dunlop has facilitated a $110 million refinancing for an 18-property multifamily portfolio in New York City. The portfolio, acquired in 2021 by a joint venture between Davean Holdings and Meadow Partners, comprises 112 multifamily units and 29 commercial units in prime NYC locations including the East Village and Park Slope. The company's New York Capital Markets team secured Hudson Bay Capital as the lender. In 2023, Walker & Dunlop's Capital Markets group sourced capital for transactions totaling nearly $12 billion from non-Agency capital providers.