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.”
WDIP is a wholly-owned subsidiary of Walker & Dunlop.
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