Walker & Dunlop Helps Borrowers Meet Growing Demand for Student Housing

BETHESDA, Md., Dec. 7, 2016 /PRNewswire/ -- Walker & Dunlop, Inc. WD (the "Company") announced today that it has originated over $1.3 billion of student housing financing year to date through October 31, 2016. Student housing loans account for over 10 percent of the Company's total year to date multifamily financing.

With strong occupancy levels and increasing rents, student housing properties have become a popular asset class for investors seeking attractive yields in the commercial real estate space. A greater percentage of millennials than in any other generation have attained a Bachelor's degree, a trend that is expected to continue. Increased enrollment coupled with the growing propensity of students to live on or near campus has created a shortage of student housing across many colleges and universities in the United States. Multifamily investors and developers have been able to capitalize on this supply shortage, often choosing to reposition outdated properties to meet the expectations of student renters today.

Walker & Dunlop Executive Vice President and Multifamily Chief Production Officer, Don King, commented, "Student housing financing has become an increasingly attractive multifamily submarket for many borrowers, but it requires specialized knowledge of the market's evolving trends and financing requirements. Walker & Dunlop has decades of experience financing student housing properties across the country, allowing our team to efficiently navigate the unique financing options for our borrowers and deliver competitive loan terms for any property within this niche sector."

The following transactions are examples of the Company's student housing financing capabilities:

23Twenty Apartments
Ames, Iowa

• Part of a portfolio of four Fannie Mae loans financed for Gilbane Development Company
• Caters to students at Iowa State University
• 10-year refinance loan with two years of interest-only payments
• 96-unit, Class A+ student housing property with two retail suites
• At the end of September 2016, the property was 100 percent occupied, reflecting the strong demand for student housing in the Ames submarket
• Originated by Will Baker, managing director

Equinox Apartments
Madison, Wisconsin

• $22,900,000 10-year refinance loan funded by Lincoln National Life Insurance Company
• Luxury high-rise residence located walking distance from the University of Wisconsin
• The 115-unit furnished apartment units include amenities such as private balconies or decks and free internet and cable
• Originated by Jim Cope, executive vice president and managing director

The Lodges at Glenwood
Provo, Utah

• $21,000,000 loan that is part of a $49 million portfolio of three Freddie Mac loans financed for DFFusion Investments
• All three properties in the portfolio are located walking distance from Brigham Young University, with enrollment of over 33,000 students
• 10-year refinance loan with five years of interest-only payments
• 196-unit apartment complex with amenities including a swimming pool, cabana, business center, volleyball court, and barbeque areas
• Originated by Will Baker, managing director

More information on Walker & Dunlop's experienced student housing finance professionals is available on the Company's website, www.walkerdunlop.com.

About Walker & Dunlop
Walker & Dunlop WD, headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has over 500 professionals in over 25 offices across the nation with an unyielding commitment to client satisfaction.

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SOURCE Walker & Dunlop, Inc.