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Stock impact report

Quebec pension JV boosts bets on U.S. apartments, student housing [BNN Bloomberg (Canada)]

Walker & Dunlop, Inc (WD) 
Last walker & dunlop, inc earnings: 2/5 06:00 am Check Earnings Report
Company Research Source: BNN Bloomberg
The JV makes preferred equity investments in student housing, manufactured housing and multifamily properties. For the Caisse de Depot et Placement du Quebec, it's part of a broader strategy to diversify its real estate portfolio, which was once overloaded with office and retail properties. The original joint venture with CDPQ was for US$250 million and is completely invested, so the partners are now targeting $500 million. High interest rates have made it difficult for property owners and developers to finance new projects, and preferred equity offers “a much-needed capital solution in the current lending environment,” Mitch Resnick, president of WDIP, said in a statement Thursday. WDIP, which does debt and equity financing and is a division of Walker & Dunlop Inc., has $15.6 billion of commercial real estate investments across hundreds of properties, according to its website. “We see solid growth opportunities for the partnership and look forward to continuing to serve as a Show less Read more
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