Walker & Dunlop, Inc. - WD STOCK NEWS

Walker & Dunlop has appointed Jared Sobel as Managing Director in its New York office, focusing on the multifamily small loans group. Sobel brings extensive experience in multifamily financing and has a successful track record with the Freddie Mac Optigo and Fannie Mae small loan programs. His arrival is expected to drive growth in Walker & Dunlop's multifamily business. The company ranks as a top lender in the multifamily space, processing over $1.5 billion in small loans since 2016.

Walker & Dunlop has announced that its multifamily small loans team, WDExpress, is now an approved Freddie Mac Optigo^® Small Balance Lender. This designation allows them to originate loans ranging from $1 million to $7.5 million for properties with at least five units. The Freddie Mac SBL program aims to provide affordable housing financing, offering non-recourse loans and lower closing costs. Walker & Dunlop, a leader in multifamily lending, aims to streamline the lending process and enhance its service offerings in the small balance multifamily market.

Walker & Dunlop announced $23,020,000 in permanent financing for The Reveal, a 150-unit affordable housing project in Eastern New Orleans. The development utilizes four percent Low Income Housing Tax Credits with Project-Based Vouchers from the Housing Authority of New Orleans. Set in an opportunity zone, the project aims to revitalize an area affected by Hurricane Katrina. The financing was facilitated through a partnership with Freddie Mac, Sterling Bank, and National Equity Fund. Completion will include two four-story buildings, community amenities, and a Business Incubator.

Walker & Dunlop has appointed Nicole Urquhart-Bradley as COO and Managing Director of its multifamily appraisal business, Apprise. With over 30 years of experience, she previously held senior roles at Bowery Valuation and Cushman & Wakefield. Urquhart-Bradley will collaborate with Apprise's Valuation Lead to enhance the firm's appraisal activities, focusing on innovation and market insights. Apprise leverages data analytics to provide quick and compliant multifamily appraisals, aiming for nationwide coverage by year-end 2020 and has completed appraisals totaling over $70 billion.

Walker & Dunlop has promoted Sheri Thompson to Executive Vice President, effective July 20, 2020. Based in Bethesda, Maryland, she will oversee multifamily lending through HUD. Under her leadership, the company aims to strengthen its HUD platform, having been ranked the #3 HUD lender based on MAP volume for the past two years. Thompson's contributions include enhancing Diversity and Inclusion initiatives and revitalizing the 'Women in Production' group. Her extensive experience includes key roles at Green Park Financial and PGIM Real Estate Finance.

Walker & Dunlop announced the expansion of its multifamily appraisal business, Apprise, by hiring Doug Koch as Senior Director and Affordable Practice Lead, and Kelly Beigle as Senior Director. Koch, with over 35 years of experience, will lead affordable housing valuation nationally, while Beigle will focus on the Eastern U.S. region. This strategic move aims to enhance Apprise's capabilities in affordable housing valuation, supported by advanced technology and data analytics. The firm has completed appraisals totaling over $70 billion, covering more than 470,000 units annually.

Walker & Dunlop has successfully structured $51,723,000 in Freddie Mac financing for three manufactured housing communities in the Chicago area, totaling over 1,000 sites. The refinancing involves ten-year, floating-rate loans below 3%, with interest-only periods included. The financing utilizes income from newly delivered homes. The company ranks as a leading multifamily lender, noted as the largest Fannie Mae DUS lender and the third-largest Freddie Mac Optigo lender in 2019. Walker & Dunlop is committed to affordable housing solutions amidst current market uncertainties.

Walker & Dunlop has secured $25,389,900 in financing for two healthcare facilities: Landmark of Laurel Creek in Kentucky ($10,744,000) and The Vistas Fox Valley in Illinois ($14,645,900). This financing utilizes HUD's LEAN 232/233(f) refinance program for long-term, reduced-rate funding for specialty healthcare properties. The Vistas Fox Valley is noted for its advanced post-hospital care, while Laurel Creek holds a four-star rating from CMS. Walker & Dunlop has established itself as a leading HUD lender, closing over $94 million in related transactions in 2019.

Walker & Dunlop has successfully completed the sale and financing of The Moretti at Vulcan Park, a luxury 135-unit apartment community in Homewood, Birmingham, Alabama. The project secured a ten-year Freddie Mac loan with five years of interest-only payments, demonstrating robust financial structuring despite COVID-19 challenges. The acquisition was made by ApexOne Investment Partners from Raia Capital Management, facilitated by Walker & Dunlop's experienced financing team. The property, built in 2014, is positioned as a high-quality investment opportunity in a premier neighborhood, enhancing Walker & Dunlop's multifamily portfolio.