Walker & Dunlop Investment Partners Closes $157M Debt Fund
The investment vehicle will focus on multifamily bridge lending, targeting deals ranging from $10 million to $100 million across the U.S.
Parent Walker & Dunlop recently arranged the sale of Hines’ 7507 Park Village Drive in Jacksonville. Image courtesy of Hines
Walker & Dunlop Investment Partners has closed its first evergreen debt fund with $157 million in equity commitments and plans to leverage to support between $450 million and $600 million in bridge lending capacity. The loans will be secured by multifamily assets nationwide.
This latest fund is part of a planned series of investment vehicles focused on multifamily bridge financing. The WDIP team, led by Geoff Smith, Marcus Duley and Mitch Resnick, will originate value-add multifamily bridge loans with a targeted agency exit. The fund’s core strategy is to originate senior secured bridge mortgage loans with a maximum stabilized loan to value of 75 percent, with a target size between $10 million and $100 million.
The firm’s first evergreen debt fund is dedicated to financing primarily Class A quality multifamily assets across the United States and deployed capital to three assets in Minnesota, Texas and Pennsylvania last month.
WDIP declined to release details on the assets or the loans.
A subsidiary of Walker & Dunlop, WDIP is an alternative investment manager focused on middle-market commercial real estate investments. The real estate private equity firm, previously known as JCR Capital Investment Corp., was acquired by Walker & Dunlop in 2018. WDIP manages capital on behalf of endowments, foundations, pension plans, private funds, insurance companies, family offices and high net worth individuals. The firm also invests debt and equity capital in value-added, opportunistic, distressed and special situation transactions through a series of private funds, joint ventures and separately managed accounts.
In September 2021, WDIP formed a joint venture with Ivanhoé Cambridge to make preferred equity investments in multifamily, student housing and manufactured housing properties. Executives at both firms said at that time that they would be focusing primarily on properties in the top 25 MSAs, particularly in the Southeast, South and Southwest. The stated strategy was to focus on identifying opportunities with stabilized properties with three-to-10-year investment horizons.
