W&D Launches $850M Large Loan Bridge Program

WASHINGTON, DC-Walker & Dunlop has launched a large loan bridge program as part of its many initiatives to diversify its lending operations. The program will have $850 million in lending power, including leverage, and will focus on loans $30 million and above with loan terms of up to three years. Multifamily properties, including student, manufactured and seniors housing, will be the target. Walker & Dunlop will originate adjustable rate loans on multifamily properties that do not qualify for permanent financing but could be candidates via Fannie Mae, Freddie Mac, HUD, CMBS, or a life company once the property is stabilized or repositioned.

The program is being seeded with capital from a Canadian institutional investor, a U.S. real estate investment manager and Walker & Dunlop, which is investing 5% in the program. Walker & Dunlop will receive an asset management fee for managing the program and servicing the loans.