Walker & Dunlop reaches $1B in on-balance sheet loan originations
Walker & Dunlop announced that it has funded $1B in total on-balance sheet loan originations and preferred equity investments since the Company began lending using its balance sheet in 2012. Over the past four years, the Company has provided bridge loans through its interim loan program and preferred equity investments to 61 multifamily properties across the United States, including student and seniors housing transactions. Clients seeking to acquire and/or reposition properties that do not currently qualify for permanent financing through Fannie Mae, Freddie Mac or HUD have been primary customers of the Company's on-balance sheet lending operations. Walker & Dunlop has placed permanent financing on over 80 percent of the ILP loans that have repaid to date. As of September 30, 2016, the balance of the interim loan portfolio was $265M, and the balance of the preferred equity investments was $15.5M.