Walker & Dunlop Investment Partners Inks JV with Pacific Life to Target U.S. Apartments and Warehouses
Posted on 06/01/2022
Denver-based Walker & Dunlop Investment Partners, Inc. (WDIP), a unit of Walker & Dunlop, Inc., partnered with Pacific Life Insurance Company to form a US$ 500 million programmatic joint venture. The joint venture will make equity investments in multifamily and industrial properties across the United States. Focusing on the middle market of real estate, the partnership will invest US$ 15 million to US$ 50 million in equity per deal alongside sponsors with track records of value-add transactions. Walker & Dunlop Investment Partners expects the joint venture to invest in up to 30 assets with a total value in excess of US$ 1.5 billion.
On another note, Walker & Dunlop announced they were combining its fund management, proprietary capital, high yield, and seniors bridge lending groups into the Investment Management & Proprietary Capital Group, which will be led by Mitchell Resnick. As part of his new role, Resnick will also serve as president of Walker & Dunlop Investment Partners, Inc., Walker & Dunlop’s wholly-owned alternative investment manager. Before joining Walker & Dunlop, Resnick led Freddie Mac’s Multifamily Capital Markets department where he oversaw the growth of Freddie’s lending and securitization programs and he also spent 15 years at Goldman Sachs on the Mortgage Trading Desk.
Keywords: Pacific Mutual Holding Company.
