BETHESDA, Md., Jan. 31, 2017 /PRNewswire/ -- Walker & Dunlop, Inc. (NYSE: WD) announced today that it has acquired the loan origination platform of Deerwood Real Estate Capital (Deerwood), a commercial mortgage brokerage and advisory firm based in Northern New Jersey. Deerwood specializes in sourcing debt and equity for all commercial real estate asset classes. Sixteen commercial loan originators are expected to join Walker & Dunlop's Capital Markets group, including Deerwood co-founders David Rosenberg and Abe Katz.
"Deerwood marks another fantastic acquisition of talented loan originators in a highly strategic market as Walker & Dunlop continues its dramatic growth towards becoming the premier commercial real estate finance company in the United States," commented Walker & Dunlop Chairman and CEO Willy Walker. "Deerwood's long-standing track record of delivering exceptional results for its clients in the greater New York region is what made this acquisition so attractive. We are very pleased to welcome Dave, Abe, and the entire Deerwood team to Walker & Dunlop."
Mr. Rosenberg commented, "Walker & Dunlop has a tremendous reputation in the commercial real estate finance industry due to its diverse product offerings, national reach and exceptional customer service. About 25% of Deerwood's annual loan originations are Multifamily loans. Having direct access to Walker & Dunlop's top-ranked GSE and HUD lending platform is going to be extremely valuable for our mortgage bankers and our Multifamily clients. We are very excited to be part of W&D!"
In the past twelve months, Deerwood has closed over $1.5 billion in loan origination volume. The acquisition does not bring additional loan servicing to Walker & Dunlop. The terms of the cash transaction were not disclosed.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has over 500 professionals in over 25 offices across the nation with an unyielding commitment to client satisfaction.
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SOURCE Walker & Dunlop, Inc.