Walker & Dunlop Launches Large Loan Bridge Program
Walker & Dunlop Inc. announced the launch of its large loan bridge program.
Betgesda, Md.—Walker & Dunlop Inc. announced the launch of its large loan bridge program. Through the program, Walker & Dunlop will originate adjustable rate loans on multifamily properties that do not currently qualify for permanent financing but will be candidates for permanent funding through one of Walker & Dunlop’s channels such as Fannie Mae, Freddie Mac, HUD, CMBS, or Life Company once stabilized or repositioned.
The program is funded with capital from a large Canadian institutional investor, a premier U.S. real estate investment manager, and Walker & Dunlop. Walker & Dunlop is a 5 percent investor in the program which will have over $850 million in lending power, inclusive of leverage, making this a significant addition to Walker & Dunlop’s product offerings. The parties may elect to increase capacity to meet demand.
The program will focus on loans $30 million and above with loan terms of up to three years on multifamily properties, including student, manufactured and seniors housing. Walker & Dunlop will receive an asset management fee for managing the program and servicing the loans.