Walker & Dunlop, Inc. - WD STOCK NEWS

Walker & Dunlop has appointed Kathleen Balderrama as Group Head for Alliant Capital, enhancing its leadership in affordable housing financing. Balderrama, with nearly two decades of experience in LIHTC and affordable housing, succeeds Shawn Horwitz. Walker & Dunlop aims for $60 billion in affordable housing finance by 2025, having already originated $20.4 billion over the last two years. Alliant manages over $14 billion in assets, helping more than 400,000 low-income families. The company continues to strengthen its position in tackling the national housing crisis.

Walker & Dunlop, Inc. (NYSE: WD) has appointed an all-women leadership team within its Small Balance Group (SBG), marking a historic organizational change. Alison Williams becomes the senior vice president and Group Head of SBG, with Angelica Dichoco, Stephanie Pratt, and Melissa Jahnke taking key roles in underwriting, closing, and operations respectively. The firm aims to drive annual small balance lending volume to $5 billion by 2025, building on previous successes as the #3 Fannie Mae Multifamily Small Loan lender. This move is expected to enhance alignment and innovation within SBG, further supporting the company’s growth in the multifamily segment.

Walker & Dunlop arranged $51 million in construction financing for the Sky Building project in Oakland Park, Florida. The mid-rise development will feature 136 affordable and workforce housing units, along with 15,000 sq. ft. of retail space. This project, strategically located in an Opportunity Zone, aims to address the community's need for affordable housing. The financing solution achieved over 80% loan to cost and was facilitated through beneficial relationships with senior lenders. Walker & Dunlop is on track to meet its goal of $60 billion in affordable housing financing by 2025, having originated $20.4 billion in the last two years.

Walker & Dunlop, Inc. (NYSE: WD) announces the successful refinancing of a $46 million loan for the Terrace Portfolio, consisting of four assisted living facilities in Vermont and New Hampshire. Led by Frank Cassidy, the refinancing transitions from a bridge loan arranged in December 2020 to permanent HUD financing. The portfolio includes Wheelock Terrace, Windham Terrace, Woodstock Terrace, and Valley Terrace, offering comprehensive services for residents. Cassidy emphasized their deep understanding of the industry, which aided in executing the client’s vision. This deal marks Walker & Dunlop's continued commitment to senior housing financing.

Walker & Dunlop Inc. (NYSE: WD) has arranged a $131 million construction loan for a new 35-story residential development at 23-10 42nd Road in Long Island City, New York. The project, featuring 240 apartments and over 15,000 square feet of amenities, aims to be completed by Summer 2025. Werwaiss Properties is developing the project with Albanese Development Corporation as the manager. The loan is provided by Corebridge Financial and PCCP, with the partnership aimed at creating attainable housing in a growing area.

Walker & Dunlop facilitated the off-market sale and financing of the 291-key DoubleTree by Hilton Tampa Rocky Point Waterfront to BlackPearl Hospitality for $76 million. The transaction closed last month, marking the expertise of Walker & Dunlop’s NY Capital Markets team, which completed over $1.4 billion in hotel transactions in 2022. The hotel recently underwent a $17.9 million renovation and is expected to capture significant demand due to its prime location. The hospitality sector remains attractive for investments, particularly post-pandemic.

Walker & Dunlop reported a challenging fourth quarter of 2022, with total revenues of $282.9 million, down 31% year-over-year. The net income stood at $41.5 million or $1.24 per diluted share, reflecting a 48% decline, while total transaction volume fell 59% to $11.2 billion. Despite these declines, the company achieved a record combined GSE market share of 12.7% and remains the #1 Fannie Mae DUS lender. For 2022, total revenues were flat at $1.3 billion, with a 20% drop in net income. The board declared a dividend of $0.63 per share, marking a 5% increase for the fifth consecutive year.

Walker & Dunlop, Inc. (NYSE: WD) announced a $40 million investment in the Shiloh Crossing project, constructing 171 Low Income Housing Tax Credit (LIHTC) units in Windsor, Sonoma County, CA. The project aims to provide affordable housing for families earning between 30% and 70% of the area median income (AMI). The development will include two buildings: a five-story North Building with 130 units and a four-story South Building with 43 units. The project is expected to generate $40 million in federal LIHTC, $5.5 million in state tax credits, and $300,000 in energy credits, addressing the ongoing housing crisis in the region.

Walker & Dunlop (NYSE: WD) has been recognized as the largest Fannie Mae DUS® lender by volume in 2022, marking its fourth consecutive year at the top. The firm achieved a total of $18 billion in loan deliveries, making it the largest GSE lender in the U.S. for the first time. Walker & Dunlop was noted for its substantial contributions in Green Financing, Manufactured Housing, and Affordable Housing. Additionally, the company celebrated its 85th anniversary and continues to provide financial solutions across various sectors of the commercial real estate market.