What Is Walker & Dunlop?
Founded in 1937, Walker & Dunlop is one of the largest commercial real estate lenders in the country. Located in Bethesda, Maryland, the company was founded by Oliver Walker and Laird Dunlop and became one of the first startups to use FHA insurance to create single-family home loans. From then on, the business has had incremental success.
Over the years, the startup has acquired other businesses and increased the market share for the company, including George Elkins Mortgage Banking, JCR Capital, and most recently, Beler Advisory Group, among a few other businesses.
In 2010, the startup completed an IPO, or Initial Public Offering, on the New York Stock Exchange — the first mortgage banking company to do so in four and a half years.
To date, the total funding raised by the startup is $807 million over the course of three different funding rounds. Additionally, the business has an estimated net worth of $2.63 billion and more than 950 employees. Stock prices of the startup have steadily increased since 2011, with the exception of 2020 and the effects of COVID-19 on the real estate market.
$43 Million Miami Development Financing
The recent financing by the company is for a 64-story full city-block development in Miami called 1 Southside Park, a development owned by JDS Development Group. By financing this project, the business plays a role in creating 1,175 residential rental units, 190,000 square feet of office space, a 200-key boutique hotel, 10,000 square feet of retail space, and 1,400 parking spaces.
Furthermore, the development will be located near the Miami-Dade Metrorail’s Brickell station — close to The Underline, a 10-mile linear park and urban trail. Michael Stern, founder and CEO of JDS Development Group, said, “1 Southside Park’s thoughtful, dynamic design serves as an exemplar for how we can design and develop in dense urban centers, with the community fabric in mind.”
Senior Managing Director for the startup, Aaron Appel, added “We are pleased to have arranged another strong financing package for JDS, one of the best development firms in the nation. 1 Southside Park will be transformative to the Brickell neighborhood, providing a new center for community and wellness, which is designed to attract both residents and tourists.”
With both companies working together, the improvements that will be made to the neighborhood have the intention of benefiting community wellness, as well as integrating the public park with The Underline. Upon completion of this project, the two companies will have made a positive impact on this Miami neighborhood.
About the Author
McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.