BETHESDA, MD-Walker & Dunlop, which has been aggressively building out its financial offerings and geographic footprint over the past few years, took a significant leap forward with its latest endeavor: the debut of a CMBS lending platform from which the company hopes to originate $1 billion a year, starting at the beginning of 2014.

Walker & Dunlop entered into a partnership with an affiliate of a fund managed by Fortress Investment Group to form the venture, which in fact will serve as more than just a conduit. Also part of the mix will be high-yield whole loans, mezzanine debt and preferred equity. The JV will be called Walker & Dunlop Commercial Property Funding, LLC and it will be headquartered in New York City, headed by industry veteran Tim Koltermann. Koltermann tells GlobeSt.com that the company is in the process of hiring "a senior group of people" who will join next month.

One reason for the launch is that the agencies have started to pull back from their multifamily finance operations and W&D saw the need to step in, Koltermann says. But that was only one, small reason. In the bigger picture, W&D sees itself as providing a range of debt and equity products to borrowers who, in the past, have had to go elsewhere if W&D wasn't able to fill their needs.