Walker & Dunlop, Inc. originates, sells, and services multifamily and other commercial real estate financing products for real estate owners and developers in the United States. It operates through three segments: Capital Markets, Servicing & Asset Management, and Corporate. The company offers first mortgage, second trust, supplemental, construction, mezzanine, preferred equity, and small-balance loans, and provides financing for multifamily, manufactured housing communities, student housing, affordable housing, and senior housing under Fannie Mae's Delegated Underwriting and Servicing program and Freddie Mac. It also acts as a debt broker, offers property sales brokerage and appraisal services, provides investment banking and advisory services, services and asset-manages loan portfolios, and manages third-party capital in tax credit equity funds focused on the LIHTC sector. Founded in 1937, the company is headquartered in Bethesda, Maryland.
Walker & Dunlop Arranges $293.2 Million Refinancing for 40 Tenth Avenue in Manhattan
Walker & Dunlop arranged $293,200,000 to refinance 40 Tenth Avenue, a 158,957-square-foot mixed-use property in Manhattan's Meatpacking District. The fixed-rate, permanent debt refinancing came from Corebridge Financial, with Walker & Dunlop Capital Markets Institutional Advisory serving as exclusive advisor to Aurora Capital and William Gottlieb Real Estate. Completed in 2019 and designed by Studio Gang, the building holds 112,241 square feet of office space across floors three through 10 and 46,716 square feet of retail space on the ground and second floors. Hyundai Motor occupies the entire retail component, while office tenants include Starwood Capital Group, WestCap Management, RTW Investments, Stripes and Checkout.com. The property also offers more than 18,000 square feet of landscaped private outdoor space, including an approximately 10,000-square-foot rooftop terrace and an approximately 8,000-square-foot planted second-floor terrace.
Walker & Dunlop Q2 earnings hit by legacy loan charges despite volume growth
Walker & Dunlop reported second-quarter transaction volume growth and a record servicing portfolio, but diluted earnings per share fell to $0.09 after $23 million in charges tied to a previously disclosed borrower fraud investigation. Total transaction volume rose 3% year over year to $14.4 billion, with debt financing volume up 8% to $12.5 billion, and the company's combined Fannie Mae and Freddie Mac market share climbed 350 basis points to nearly 15%. The servicing portfolio reached a record $146 billion, up 6% from a year earlier, though servicing and asset-management revenue declined 5% due to timing-related drops in affordable-housing joint-venture earnings. Adjusted core EPS increased 3% to $1.19, and the company expects an additional $12 million to $16 million of credit-related charges in the third quarter as it nears completion of its Fannie Mae review. The board approved a quarterly dividend of $0.68 per share, unchanged from the prior quarter.
Walker & Dunlop declared a quarterly dividend of $0.68 per share. The dividend carries a forward yield of 6.15% and is payable on September 3 to shareholders of record as of August 20, with the ex-dividend date also set for August 20.
Zelman Launches Speakers Bureau Featuring Leading Housing and CRE Analysts
Zelman, a Walker & Dunlop company, has launched the Zelman Speakers Bureau, giving organizations direct access to its top housing and commercial real estate analysts. The bureau features analysts including Alan Ratner, Ryan McKeveny, McClaran Hayes, Marius Morar, and Jesse Lederman, who collectively bring decades of experience and are frequent contributors to CNBC, Barron's, and The Wall Street Journal. Conference organizers, corporate boards, and executive teams can book them for keynotes, panels, and custom workshops covering topics from homebuilding and multifamily to mortgage finance and investment strategy. The launch comes as investors and developers face interest rate volatility, affordability pressures, and shifting demographics, with speakers also able to draw on the broader commercial real estate capital markets expertise of Walker & Dunlop.
Walker & Dunlop stock in focus as Frank Cassidy returns and fair value estimate suggests 23.9% upside
Walker & Dunlop stock is drawing attention after former Federal Housing Administration commissioner Frank Cassidy rejoined as senior managing director. The shares trade at $51.22, down 6.36% over the past week but up 13.14% over 90 days, while longer-term total shareholder returns remain weak. A widely followed fair value estimate of $67.33 implies the stock is 23.9% undervalued, based on assumptions of faster earnings, improving margins, and a 13.8 times price-to-earnings multiple in 2029. However, the current price-to-earnings ratio of 25.7 times sits above the US Diversified Financial industry average of 15.9 times and a fair ratio of 18.1 times, raising questions about whether the price already reflects excessive optimism. The bull case also faces hurdles from interest rate sensitivity and heavy reliance on Fannie Mae and Freddie Mac volumes.
Keefe Bruyette cuts Walker & Dunlop price target to $63
Keefe Bruyette lowered its price target on Walker & Dunlop to $63 from $67 while maintaining an Outperform rating, citing slightly increased caution on the commercial real estate outlook. Separately, Walker & Dunlop announced it arranged $128.23 million in refinancing for a four-property, 986-unit multifamily portfolio in Eugene, Oregon, led by managing director Steven Natale.
Walker & Dunlop arranges $191 million refinance for Dutch office portfolio
Walker & Dunlop has arranged a $191 million refinancing for Project Dutch Lion, a portfolio of 19 office assets across eight municipalities in the Netherlands. The financing was secured on behalf of Time Equities from Aviva Investors, closing at 55% loan-to-value and consisting of a $134.5 million refinancing and a $57 million accordion facility for future acquisitions. The portfolio spans approximately 1.5 million square feet with around 90% occupancy and over 65 tenants, and all assets hold Dutch energy ratings of A or higher. The transaction replaces existing debt and provides additional flexibility for Time Equities' long-term strategy, with Aviva selected for its competitive terms and certainty of execution.
Walker & Dunlop arranges $128 million refinancing for Oregon multifamily portfolio
Walker & Dunlop has arranged $128.23 million in refinancing for a four-property, 986-unit multifamily portfolio in Eugene, Oregon. The transaction was led by Steven Natale and utilized Fannie Mae's Streamline Early Rate Lock program, locking rates just 25 days after application. The portfolio includes River Terrace with 280 units, Parkside with 254 units, The Bailey at Amazon Creek with 252 units, and Crescent Park with 200 units. The firm noted strong demand for well-located multifamily communities, citing strong occupancy, attainable rents, and favorable supply dynamics in the Pacific Northwest market.
Walker & Dunlop arranges $375 million construction loan for Nasser Freres' Jersey City development
Walker & Dunlop has arranged a $375 million construction loan to finance JFK Boulevard, a transformative mixed-use development by Nasser Freres in Jersey City's Journal Square. The floating-rate, interest-only loan was provided by Madison Realty Capital and will support construction of 840 residential units, of which 84 will be designated as affordable housing, along with nearly 50,000 square feet of retail space anchored by a national organic grocer and over 36,000 square feet of lifestyle amenities. The project is located adjacent to the historic Loew's Jersey Theatre and less than a five-minute walk from the Journal Square PATH station, offering direct access to Manhattan. Completion is scheduled for early 2029.
Greystone Hires Joshua Rosen as Senior Managing Director for Seniors Housing and Healthcare Finance
Greystone has hired Joshua Rosen as Senior Managing Director to originate seniors housing and healthcare loans. Based in Chicago, he will report to Mordecai Rosenberg, Head of FHA Lending at Greystone. Rosen joins from Walker & Dunlop and will work with Greystone’s seniors housing and healthcare finance teams to deliver capital solutions for owners, investors, and operators. His addition reflects Greystone’s continued investment in specialized talent and its relationship-driven platform.
USA