Walker & Dunlop, Inc. - WD STOCK NEWS

Walker & Dunlop Investment Partners (WDIP) has completed its final investment from its sixth fund, Fund VI, which focused on niche middle-market commercial real estate. Launched in Q1 2021, the fund raised $79.3 million and facilitated eight equity investments totaling $259 million. These included industrial properties, hotel-to-multifamily conversions, and distressed office transactions. Marcus Duley, WDIP's CIO, expressed optimism about the portfolio's performance despite market uncertainties. Since 2006, WDIP has advised on over $14.8 billion in real estate transactions.

Walker & Dunlop, Inc. (NYSE: WD) has announced a structured financing of $120 million for the rehabilitation of a 557-unit housing portfolio in Harlem, NY, including properties like Audubon Houses and Thurgood Marshall Plaza. The financing involves collaboration with Dantes Partners, NYCHA, HDC, Freddie Mac, and JP Morgan Chase. The project aims to upgrade essential facilities for low-income residents, with plans to invest over $200,000 per unit. This renovation will enhance living conditions, addressing significant infrastructure needs while contributing to affordable housing in New York City.

Walker & Dunlop (NYSE: WD) announced the closure of a $200 million incremental loan under its senior secured term loan facility. This loan, which matures in December 2028, will be directed towards repaying debt from the Alliant Capital acquisition and fortifying the company's balance sheet. The repayment is expected to lower annual debt service costs by eliminating mandatory principal repayments. JP Morgan acted as the Administrative Agent and Lead Arranger for this loan.

Walker & Dunlop is preparing for a critical phase as $2.5 trillion of commercial real estate debt matures from 2023-2027 amid rising interest rates, high inflation, and asset revaluations. Leveraging a $121 billion servicing portfolio, the company aims to offer portfolio evaluation, asset financing advisory, and loan sales services. Their Capital Markets team has facilitated over $21 billion in capital transactions and boasts significant experience in managing complex credit portfolios to optimize asset recovery.

Walker & Dunlop Inc. (NYSE: WD) ended the year robustly by closing four financing deals totaling nearly $300 million. The New York Capital Markets team, led by notable members, secured significant financing for various projects, enhancing their status as a leading advisor in the commercial real estate sector. Key transactions included:

• Northern Liberties: $134.6 million
• JFK Logistics Center: $100 million
• Lincoln Logistics: $37.7 million
• Hotel Peter Paul: $12.7 million

Walker & Dunlop (NYSE: WD) announced plans to borrow an additional $200 million under its senior secured term loan, raising the total to $795 million. The firm intends to use $115 million to refinance debt from the acquisition of Alliant Capital, and $85 million to bolster its balance sheet. JP Morgan is managing the borrowing, expected to close in January 2023, subject to standard conditions.

Walker & Dunlop announced the structuring of $385 million in financing for 470 Kent Avenue, a mixed-use development in Williamsburg, Brooklyn. The project will comprise 463 rental apartments (30% affordable) and 90 luxury condominiums, totaling over 627,000 gross square feet. The development will include amenities such as outdoor terraces, a fitness center, and an ice-skating rink, enhancing the neighborhood's appeal. The project, backed by Naftali Group and Access Industries, aims to meet evolving resident demands with proximity to transportation options.

Walker & Dunlop has secured $204 million in loan proceeds from MF1 Capital to refinance The Axel, a mixed-use multifamily and commercial property in Brooklyn, New York. The 29-story building includes 284 multifamily units and is strategically located near cultural amenities and transportation. The refinancing was advised by a dedicated team from Walker & Dunlop, highlighting their expertise in managing structured loans in a challenging market. This transaction exemplifies Walker & Dunlop's strong position in capital markets, having sourced nearly $30 billion in loans in 2021.

Walker & Dunlop reported Q3 2022 revenues of $315.6 million, a 9% decrease year-over-year, with net income at $46.8 million, down 35%. Total transaction volume was $16.9 billion, an 8% decline from Q3 2021. Adjusted EBITDA rose 4% to $75 million, attributed to cash revenue growth from services. Fannie Mae market share increased to 17%. A quarterly dividend of $0.60 per share was declared for Q4 2022. The company is optimistic about its 2025 business plan despite a challenging economic outlook.