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BETHESDA, Md. - Walker & Dunlop, Inc., a major commercial real estate finance firm, has appointed Andrew Kaskel as Senior Managing Director to head its Digital Infrastructure Advisory Services Group in New York. Kaskel will collaborate with the company's Institutional Capital Markets team to finance data centers and other digital infrastructure development and ownership.
Kaskel's hiring comes at a time when the digital infrastructure sector is experiencing a surge in capital demand for development and financing. The traditional financing model for data centers, which has relied heavily on hyperscaler cash and bank loans, is evolving as ownership becomes more diverse. Kaskel brings extensive experience to Walker & Dunlop, having facilitated over 50 data center financings worth in excess of $15 billion throughout his career.
Prior to his new role, Kaskel served as Managing Director at DH Capital, a firm acquired by Citizens Bank, where he advised digital infrastructure companies and investors. His expertise and industry connections are expected to be instrumental in driving growth for Walker & Dunlop in this high-demand market.
Kris Mikkelsen, Co-Head and EVP of W&D Capital Markets, expressed enthusiasm for Kaskel's addition to the team, highlighting his impressive track record and deep industry relationships.
Walker & Dunlop, listed on the New York Stock Exchange under the ticker NYSE:WD, is recognized as one of the largest advisory service firms in the U.S. and international commercial real estate finance sector. The firm's capabilities extend from financing to creating communities for living, working, shopping, and playing, with a focus on client-centric insights and technological innovation.
This expansion into digital infrastructure financing aligns with the company's growth strategy and market demand. The information reported is based on a press release statement from Walker & Dunlop, Inc.
In other recent news, Walker & Dunlop, Inc. has announced significant financial developments and strategic moves. The company successfully orchestrated a $420 million recapitalization of Hub, a 750-unit high-rise in Brooklyn, enabling Steiner NYC to acquire full ownership by buying out J.P. Morgan Asset Management. Additionally, Walker & Dunlop secured a new $450 million credit agreement, including a $450 million term loan and a $50 million revolving credit line, aimed at enhancing financial flexibility. This is complemented by the pricing of a $400 million senior unsecured notes offering due in 2033, carrying an interest rate of 6.625% per annum.
In personnel news, the firm has bolstered its New York Capital Markets team by hiring Dustin Stolly as senior managing director, following his tenure at Newmark. Analyst firm Keefe, Bruyette & Woods recently upgraded Walker & Dunlop's stock from "Market Perform" to "Outperform," citing anticipated improvements in multifamily rent growth and pent-up demand for acquisitions and refinancing. These developments highlight Walker & Dunlop's ongoing efforts to strengthen its market position and financial standing.
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