Walker & Dunlop, Inc. - WD STOCK NEWS

Walker & Dunlop announced $14,120,000 in Fannie Mae financing for the acquisition of Blackbob Court Townhomes in Olathe, Kansas. The property, consisting of 161 apartment units across 41 buildings, is part of the affordable housing sector. The financing was arranged by Managing Director Dustin Swartz and Senior Analyst Karl Rincavage, utilizing Fannie Mae's Green Rewards Program. Vazza Real Estate Group, the borrower, is expanding its multifamily portfolio in the Kansas City area, having acquired 1,200 apartments in 2020 amid historically low interest rates.

Walker & Dunlop has secured $84,375,000 in financing for The Residences at Annapolis Junction, a 416-unit Class A apartment community in Maryland. This LEED Gold-certified property, established in 2018, is located strategically between Baltimore and Washington, D.C. The financing is a ten-year non-recourse loan from Freddie Mac, replacing a previous bridge loan. This move demonstrates Walker & Dunlop's commitment to addressing client needs and effective structuring of financial solutions. The company ranks as the 3rd largest Freddie Mac lender and holds a 13% market share as of September 2020.

Walker & Dunlop, in collaboration with Project Destined and Greystar, has launched a new paid internship program aimed at students from diverse backgrounds in Durham, North Carolina. The three-year initiative offers students from middle school to university the chance to gain real-world experience in commercial real estate through live transactions. The program emphasizes educational access, with interns dedicating up to 40 hours per semester to develop technical and leadership skills, culminating in a presentation of investment opportunities to industry leaders.

Walker & Dunlop announced a virtual Investor Day scheduled for December 10, 2020, at 10:00 a.m. Eastern Time. The event will outline the company's vision for the next five years and include presentations and a Q&A session with senior management. Analysts and investors can access the event via webcast or dial-in. The company, listed on the NYSE as WD, is a leading commercial real estate finance firm in the U.S., offering capital solutions across various asset classes.

Walker & Dunlop commends the Federal Housing Finance Agency's (FHFA) announcement of the 2021 multifamily lending caps, allowing Fannie Mae and Freddie Mac to lend a total of $140 billion. Notably, the requirement for affordable lending increased from 37.5% to 50%. Chairman and CEO Willy Walker expressed that these measures are crucial amid the pandemic, supporting landlords in keeping renters in their homes. Walker & Dunlop has lent over $17 billion in affordable housing over the last three years, aligning with the FHFA's enhanced focus on affordable lending.

Walker & Dunlop announced the addition of Senior Director Colton Smith to expand its presence in the Western U.S., specifically in Salt Lake City, Utah. Mr. Smith, who has over ten years of commercial real estate experience, will focus on sourcing debt financing for various commercial real estate assets. The firm aims to grow its market share and client base in the Utah region. Walker & Dunlop ranks as a top multifamily lender and has seen a 23.4% increase in brokered loan origination volume from 2018 to 2019, attributed to successful talent acquisitions.

Walker & Dunlop announced $20.4 million in financing for Fox Ridge Apartments, a 170-unit community in Lebanon, Pennsylvania. This financing was arranged for repeat client Boyd/Wilson, who has secured over $75 million through Walker & Dunlop in six months. The deal features six years of interest-only payments and a fixed rate for a ten-year term, facilitated by the Philadelphia Capital Markets team led by John Banas and Kris Wood. The property is strategically located near essential amenities and provides modern community features.

Walker & Dunlop announced the sale of Argyle & Harvard Apartments, a 98-unit multifamily portfolio in Hollywood, Los Angeles. The properties, built in 1970 and 1955, present opportunities for rental income increases of up to 44% through renovations. This sale marks one of the few multifamily transactions in Los Angeles since the Covid-19 pandemic, reflecting a significant market slowdown. Walker & Dunlop's multifamily sales team recently closed over $325 million in transactions in just 30 days, contributing to a total of over $4 billion in sales volume in 2020.

Walker & Dunlop announced the successful sale of two skilled nursing facilities in Southwest Montana, namely Apple Rehab Cooney and Elkhorn Healthcare & Rehabilitation. The transaction, facilitated by Tony Cassie and Sam Thompson from the Walker & Dunlop Investment Sales team, achieved over $100,000 per bed despite challenges posed by the COVID-19 pandemic. The facilities, located in Helena and Clancy, Montana, highlight the operational resilience in the healthcare sector. With a track record of $5.4 billion in property sales in 2019, Walker & Dunlop continues to be a leader in multifamily property sales.