Walker & Dunlop Investors Partners (WDIP) has successfully closed its latest fund, as part of a planned series focused on providing multifamily bridge financing. Led by industry experts Geoff Smith, Marcus Duley, and Mitch Resnick, the fund has secured $157.5 million in equity commitments and aims to leverage this capital to support between $450 million and $600 million in lending capacity.
The strategy behind the fund is centered on originating senior secured bridge mortgage loans with a maximum stabilized loan-to-value ratio of 75%. The target assets for these loans are nationwide properties with sizes ranging from $10 million to $100 million. WDIP has already deployed capital across various assets located in Minnesota, Texas, and Pennsylvania.
“We are thrilled to announce the successful closing of our first evergreen debt fund dedicated towards financing high-quality class A multifamily properties throughout the United States,” stated Geoff Smith, Senior Managing Director and Head of Debt at WDIP. “We have hit the ground running by deploying capital across three assets during December alone – one each in Minnesota,Texas,and Pennsylvania.This demonstrates our commitment towards taking advantageofthe highly attractive market for lending opportunities.”
This news was originally published on Connect CRE’s website but we have rephrased it without mentioning any specific platform or location.
