Walker & Dunlop Establishes Presence in Utah with New Hire in Salt Lake City

Rhea-AI Summary

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.

Positive

• Addition of Colton Smith, an experienced professional with over $1 billion in debt originations.
• Expansion in the Western U.S. with a focus on the growing Utah market.
• Walker & Dunlop's strong market position as a leading multifamily lender.
• 23.4% increase in brokered loan origination volumes from 2018 to 2019.

Negative

• None.

BETHESDA, Md., Nov. 16, 2020 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it has expanded its geographic footprint in the Western United States with the addition of Senior Director Colton Smith. Based in Salt Lake City, Utah, Mr. Smith will focus on sourcing debt financing for all commercial real estate asset classes nationally, as well as expanding the firm's reach and capabilities within Salt Lake City and the greater Utah region.

Cliff Carnes, Western Region Chief Production Officer for Walker & Dunlop, commented, "We are thrilled to welcome Colton to the team. As we continue to expand our platform throughout the United States, we consistently seek talent that reflects our commitment to superior client service. Colton has an excellent reputation and is very well-known in the industry. We have wanted a presence in Salt Lake City for several years, but knew we had to wait for the right talent. We have found that in Colton and are confident that his track record will accelerate our growth in Salt Lake City and the greater Utah area. This hire represents a significant opportunity for us to increase both our market share and client base."

"I'm very pleased to join Walker & Dunlop, one of the most well-respected firms in the commercial real estate finance space," said Smith. "In joining this platform, I have the opportunity to be a meaningful contributor to the company's strategic growth and continue to provide best-in-class service to my clients."

Mr. Smith brings over ten years of commercial real estate experience to Walker & Dunlop. Prior to joining Walker & Dunlop, Mr. Smith was a First Vice President with Marcus & Millichap, where he secured financing for multifamily, office, industrial, retail, seniors housing, and hospitality properties. Throughout his career, he has completed more than $1 billion in debt originations and has consistently been recognized as a top broker. Before Marcus & Millichap, Mr. Smith founded the commercial lending division for a Salt Lake City real estate conglomerate.

Walker & Dunlop is a leader in the commercial real estate finance industry, ranking as the top Fannie Mae DUS^® multifamily lender, the 3^rd largest Freddie Mac Optigo^® multifamily lender by volume,  and the 3^rd largest HUD lender based on MAP initial endorsements in 2019. The company has also achieved dramatic growth in its brokered loan origination volumes, which increased 23.4 percent from 2018 to 2019. This has largely been due to the company's successful hiring and integration of talented bankers and brokers. Since the beginning of 2019, Walker & Dunlop has added 51 bankers and brokers to the platform.

About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE Magazine's Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop's 900+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.

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SOURCE Walker & Dunlop, Inc.

FAQ

What recent expansion has Walker & Dunlop made in Utah?

Walker & Dunlop has expanded its presence in Utah by hiring Senior Director Colton Smith to focus on sourcing debt financing in Salt Lake City.

Who is Colton Smith and what is his role at Walker & Dunlop?

Colton Smith is the new Senior Director at Walker & Dunlop, responsible for expanding debt financing efforts in commercial real estate across the U.S. and specifically in Utah.

How much did Walker & Dunlop's brokered loan origination volumes increase?

Walker & Dunlop's brokered loan origination volumes increased by 23.4% from 2018 to 2019.

What is Walker & Dunlop's ranking among multifamily lenders?

Walker & Dunlop ranks as the top Fannie Mae DUS multifamily lender and the 3rd largest Freddie Mac and HUD lender by volume.

When was the press release about Walker & Dunlop's expansion issued?

The press release regarding Walker & Dunlop's expansion in Utah was issued on November 16, 2020.