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BETHESDA, Md. - Walker & Dunlop, Inc. (NYSE:WD) has arranged $170 million in refinancing for Post District, a Class A mixed-use development in downtown Salt Lake City, according to a company press release.
The financing for the 580-unit residential complex was provided by Fannie Mae through their near-stabilization program. Walker & Dunlop’s New York Capital Markets team served as the exclusive advisor to Bridge Investment Group on the transaction.
Post District, which opened in December 2023, is located between 500-600 South and 300-400 West in downtown Salt Lake City. The development was created as an opportunity zone project by a joint venture of Bridge Investment Group, Blaser Ventures, and Lowe Property Group.
The complex features five buildings offering various residential layouts from micro-studios to three-bedroom penthouses. It also includes nearly 26,000 square feet of retail space and 498 parking spaces.
Amenities at the property include an 8,000-square-foot gym, a resort-style pool deck, a movie theater, golf simulator, coworking lounge, and multiple rooftop areas.
This refinancing follows a previous $157.5 million loan arranged by Walker & Dunlop for the same property in November 2023.
Walker & Dunlop reports it originated over $30 billion in debt financing volume in 2024, with more than $25 billion dedicated to multifamily properties.
Bridge Investment Group, one of the partners in the development, manages approximately $49 billion in assets as of March 31, 2025, according to information provided in the press release. Walker & Dunlop maintains a consistent 3.8% dividend yield and has raised its dividend for seven consecutive years, demonstrating strong shareholder returns despite market volatility.Access the comprehensive Walker & Dunlop Pro Research Report and many more valuable insights by subscribing to InvestingPro, your source for professional-grade investment analysis.
In other recent news, Walker & Dunlop reported its first-quarter 2025 earnings, surpassing analyst expectations with an adjusted core earnings per share (EPS) of $0.85, compared to the forecasted $0.78. However, the company’s revenue of $237.4 million fell short of the anticipated $260.43 million. Despite this revenue miss, the company experienced a 4% year-over-year revenue growth and maintained its 2025 annual guidance. Keefe, Bruyette & Woods maintained an Outperform rating on Walker & Dunlop, setting a price target of $95.00, citing positive momentum from government-sponsored enterprises like Fannie Mae and Freddie Mac. These enterprises have been adjusting their pricing and structures, which is expected to benefit Walker & Dunlop. The firm also noted that other companies, such as Arbor Realty Trust and CBRE Group, stand to gain from these developments. Walker & Dunlop has expanded into hospitality investment sales and launched new technology offerings, further diversifying its service offerings. The multifamily sector remains a key driver for the company, accounting for 88% of its first-quarter volume.
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