BETHESDA, MD-Walker & Dunlop appears to be readying itself for an initial public offering, according to paperwork filed with the Securities and Exchange Commission. The company has filed to raise up to $150 million on the New York Stock Exchange. Credit Suisse and Keefe Bruyette Woods are the lead underwriters for the deal. No other pricing information was provided.
Walker & Dunlop has carved a deep footprint for itself in agency lending over the years, building large books of business with Fannie Mae, Freddie Mac and the Department of Housing and Urban Development.
Last year, it merged with Column Guaranteed, a Credit Suisse Group subsidiary. At the time, Walker & Dunlop’s strength was its Fannie Mae operations. Column Guaranteed brought Freddie Mac and HUD financing to the table as well as a larger scale in overall originations and servicing, William M. Walker, the company's CEO, told GlobeSt.com at the time. According to the SEC filing, the company posted $63.6 million in revenue for the first six months of this year. Walker & Dunlop declined to comment to GlobeSt.com.
The company is hardly the first real estate firm to turn to the public markets since the rally began last year. Indeed, REITs have turned en mass to the public option, with Vornado, Simon Property Group, ProLogis, BioMed and locally based First Potomac and Corporate Office Properties Trust all raising money this year.
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