Walker & Dunlop, Inc. - WD STOCK NEWS

Walker & Dunlop announced it has successfully arranged a $148 million refinance loan for The Victoria, the tallest building in Harlem. The project, developed by Lam Group and Exact Capital, includes luxury residences, a Marriott-branded Renaissance Hotel, and retail space. Completed in Q3 2023, The Victoria features 191 residential units, a 211-key hotel, over 23,000 square feet of retail space, and 52 below-grade parking spaces. Located near prominent cultural landmarks like the Apollo Theater and Columbia University's Manhattanville campus, the property blends modern amenities with Harlem's rich cultural heritage. The loan, secured by Aareal Capital, will support ongoing operations and future enhancements of this iconic development.

Zelman & Associates, a Walker & Dunlop company, announces the return of its annual Housing Summit, which will be held in person on September 12th and 13th at the InterContinental Hotel in Boston. The event is open for registration and will gather over 600 industry executives, analysts, and investors to discuss market trends, opportunities, and challenges in the real estate sector. Highlights include sessions on the State of the Housing Market, homebuilding, mortgage lending, multifamily, single-family rentals, and housing mergers & acquisitions. Founded in 2007, Zelman & Associates specializes in institutional research and investment banking services for the U.S. housing industry.

Walker & Dunlop has successfully arranged $29.6 million in federal Low-Income Housing Tax Credit (LIHTC) equity for Canyon Creek East, an affordable housing project in Lenexa, Kansas. This development will include 212 multifamily units across five buildings, offering one-, two-, and three-bedroom units for diverse households. The financing will cover approximately 40% of the total development costs.

The project is part of the Cedar Canyon West development plan, aiming to provide affordable housing for households earning 30% to 80% of the area median income (AMI). Canyon Creek East is strategically located near major employers and schools, enhancing residents' access to employment and education. Walker & Dunlop's Affordable Equity team, led by Jennifer Erixon, played a important role in securing this financing, marking their sixth transaction with MRE Capital.

Walker & Dunlop announced that Gary Pinkus, former managing partner of McKinsey & Company’s North American operations and global leader of McKinsey’s Private Equity & Principal Investors Practice, has been elected to its board of directors. Pinkus will also serve on the Audit and Risk Committee. Chairman and CEO Willy Walker emphasized Pinkus's extensive business knowledge and experience. Pinkus, who has served on McKinsey’s Shareholders Council since 2009 and chaired the Senior Partners Committee, expressed excitement to contribute to Walker & Dunlop's growth and strategic direction.

Walker & Dunlop announced the election of Gary Pinkus to its board of directors. Pinkus will serve as an independent director and a member of the Audit and Risk Committee. With a robust background as the former managing partner of McKinsey & Company's North American operations and global leader of its Private Equity & Principal Investors Practice, Pinkus brings significant expertise to the table. Chairman and CEO Willy Walker expressed enthusiasm about Pinkus's addition, highlighting his potential to guide the company's future growth and strategic direction. Pinkus, who has a long-standing professional relationship with Walker, also voiced his excitement to contribute to Walker & Dunlop's continued success.

Walker & Dunlop's Midwest Investment Sales team is serving as the exclusive advisor for Artistry, a prominent mixed-use apartment complex in Indianapolis. Artistry, consisting of 554 units, offers significant investment potential in a market known for strong rent growth. The acquisition includes favorable terms, such as a full-term interest-only period at a below-market rate. Artistry, part of a three-phase complex, includes high-end amenities and is strategically located near major employers and attractions. The property is expected to drive rents and offers potential for significant return through upgrades. Walker & Dunlop, a leader in multifamily property sales, completed over $8.7 billion in property sales in 2023.

Walker & Dunlop announced securing a $110 million construction loan for 880 Atlantic Avenue, a 246-unit Class-A multifamily development in Prospect Heights, Brooklyn. The project, led by the New York Capital Markets team and EMP Capital Group, also involves QuadReal Property Group as the lender. This development offers studio, one, and two-bedroom apartments, aiming to meet high residential demand and elevate rental rates in Brooklyn. Located near Prospect Park and Fulton Mall, the area boasts excellent transport links and retail options. Walker & Dunlop had previously financed a nearby 247-unit project for EMP in March 2024 for $109 million. The loan will fund ongoing development costs, contributing to Brooklyn's multifamily housing landscape.

Walker & Dunlop, Inc., the top student housing lender, releases an annual housing report sharing market trends and analysis. They are the #1 lender for Fannie Mae and Freddie Mac in 2023, providing valuable insights for developers and investors. The student housing industry has evolved into a sophisticated, amenity-rich environment, attracting national and international investors. Despite challenges like interest rates, the company remains optimistic about the sector's future performance.

Walker & Dunlop, Inc. completed a $155 million refinancing deal for The Lexington Hotel in Manhattan, a historic landmark transformed into a Marriott Autograph Collection hotel. The New York Capital Markets team secured the financing through lender Hudson Bay Capital, highlighting the enduring appeal of New York City as a tourist and business destination. The hotel offers 725 keys, specialty suites, on-site amenities, and benefits from its prime location in Midtown East.