Walker & Dunlop, Inc. - WD STOCK NEWS

Walker & Dunlop secured $205 million in financing for 619 West 54th Street in Manhattan, a prime Class A life science and medical office property. This facility spans approximately 320,000 rentable square feet and is positioned to meet the increasing demand for specialized office spaces in the life sciences sector, which has seen job growth of 70,000 per year since 2013. The financing will refinance existing debt and support the buildout of this high-demand property, showcasing Walker & Dunlop's robust financing network even amidst market challenges.

Walker & Dunlop has enhanced its property sales team by acquiring FourPoint Investment Sales Partners, a boutique brokerage focusing on student housing and multifamily properties. This strategic move aims to leverage FourPoint's expertise and established client relationships, targeting a sales volume of $25 billion by 2025. The newly integrated team, led by experienced directors from FourPoint, will boost Walker & Dunlop's capabilities in the student housing sector, where it has already been recognized as a top lender, originating $7.1 billion in student housing debt since 2016.

Walker & Dunlop reported strong Q4 2020 results with revenues of $349.7 million, up 61% YoY, and a net income of $83.1 million, reflecting a 94% increase. The total transaction volume rose to $14.2 billion, a 45% YoY increase. The servicing portfolio reached $107.2 billion, up 15% from Q4 2019. For the full year, revenues exceeded $1.1 billion, a 33% increase, and net income grew 42% to $246.2 million. The Board approved a 39% dividend increase to $0.50 per share.

Walker & Dunlop has secured $28,362,000 in Fannie Mae Green financing for Maple Grove Apartment Homes and Middleton Shores Apartments in Wisconsin, totaling 462 units designated as affordable housing. The financing was facilitated by a specialized team, which identified the Green Building Certification program to benefit existing green upgrades. This refinancing reduced rates significantly, nearly halving previous financing costs, and incorporated an additional 38 units from an adjacent property. Walker & Dunlop continues to be a leading multifamily lender in the U.S.

Walker & Dunlop has established a dedicated team to tap into the growing Single-Family Rental (SFR) and Build-for-Rent (BFR) markets, currently valued at around $3.4 trillion. The demand for these property types has surged due to shifting migration patterns influenced by COVID-19, with BFR properties making up 10% of new homes. The new SFR & BFR Practice Group, led by key executives, aims to provide financing and sales support, having already secured over $872M in capital with an active pipeline of $1.4 billion.

Walker & Dunlop announced the hiring of John Montakab as a Managing Director in its Capital Markets group, based in Irvine, California. Montakab will enhance the company's operations in Southern California and work with Mark Grace to grow their debt financing volume to $60 billion by 2025. With over $3 billion in property sales experience, Montakab aims to strengthen client relationships and address debt needs. This hiring aligns with Walker & Dunlop's Drive to '25 growth strategy.

Walker & Dunlop recently sourced equity for a joint venture to acquire and develop Myatt Drive Industrial, a 16-acre parcel near Nashville, Tennessee. This development aims to address the rising demand for Class A, flex-industrial spaces, particularly as last-mile distribution centers. The project includes 171,000 square feet with flexible site options and is positioned within a designated opportunity zone, providing tax incentives for long-term investments. This marks Walker & Dunlop's first collaboration with CA South Development, a woman-owned firm committed to expanding Nashville's industrial footprint.

Walker & Dunlop announced $43 million in acquisition and construction financing for JDS Development Group's 1 Southside Park in Miami's Brickell neighborhood. This 64-story project will feature 1,175 residential units, 190,000 square feet of office space, a boutique hotel, and retail space. The development complements the nearby The Underline park and aims to enhance community wellness with over 90,000 square feet of amenities. Walker & Dunlop secured the financing through its extensive capital network, contributing to the project's anticipated positive impact on the local economy.

On January 25, 2021, Avanta Residential and Iron Point Partners announced a joint venture to develop single-family, build-for-rent (BFR) neighborhoods across the U.S. Walker & Dunlop structured the agreement and will provide ongoing advisory services. The venture, reflecting Avanta's growth strategy, aims to build thousands of homes in markets such as Texas, Florida, and Georgia. The BFR sector, which is rapidly expanding, addresses growing demand for amenity-rich neighborhoods. This partnership emphasizes investor returns through strategic residential developments.