Fund to originate high-value loans for multifamily properties across America
Walker & Dunlop Investment Partners (WDIP) has announced closing a bridge fund backed by multifamily assets across the United States.
The commercial real estate private equity firm said the new fund is part of a series targeting multifamily bridge financing. It will focus on originating value-added multifamily bridge loans, primarily properties expected to secure agency financing upon stabilization.
With equity commitments totaling $157.5 million, the fund plans to use this capital to support a lending capacity of between $450 million and $600 million. These loans will be senior-secured bridge mortgage loans with a maximum stabilized loan-to-value of 75% and will range between $10 million to $100 million in size.
“We are very excited to have closed our first evergreen debt fund, which is dedicated to financing primarily class A quality multifamily assets across the US,” Geoff Smith, senior managing director and head of debt at WDIP, said in a media release. “We are off to a good start, having deployed capital across three assets in Minnesota, Texas, and Pennsylvania during December. The fund will continue to capitalize on a very attractive market for lending opportunities.”
Read next: What is bridge financing and how does it work?
WDIP is a wholly-owned subsidiary of Walker & Dunlop.
Stay updated with the freshest mortgage news. Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.
