Key Developments: Walker & Dunlop Inc (WD)
19.12USD
24 May 2013
$-0.07 (-0.36%)
$19.19
$19.21
$19.46
$19.01
1,157,716
146,088
$21.76
$10.85
Latest Key Developments (Source: Significant Developments)
Walker & Dunlop Inc Names Stephen P. Theobald as Chief Financial Officer
Walker & Dunlop Inc announced that Stephen P. Theobald will join the Company as Executive Vice President, Chief Financial Officer and Treasurer on April 1, 2013. Full Article
Walker & Dunlop Inc Announces Senior Management Change
Walker & Dunlop Inc announced that Deborah A. Wilson will step down as Executive Vice President, Chief Financial Officer and Treasurer effective March 31 , 2013. The Company is working with an outside firm to conduct a nationwide search to fill the position. Full Article
Walker & Dunlop Inc Completes Acquisition of CWCapital LLC
Walker & Dunlop Inc announced that it completed the acquisition of CWCapital LLC (CWCapital), making it one of the commercial real estate lenders in the United States. CWCapital was formerly an operating subsidiary of CW Financial Services LLC (CW Financial), which is wholly owned by funds managed by affiliates of Fortress Investment Group LLC (Fortress). The aggregate purchase price to acquire CWCapital was $234.0 million, comprised of $80 million in cash and the issuance of 11.6 million shares of common stock to an affiliate of Fortress worth $154.0 million, based on Walker & Dunlop's closing share price on August 31, 2012. An affiliate of Fortress is now Walker & Dunlop's largest shareholder and will take two seats on Walker & Dunlop's 11-person Board of Directors. Full Article
Walker & Dunlop Inc to Acquire CWCapital LLC
Walker & Dunlop Inc announced that it has entered into a definitive agreement to acquire CWCapital LLC an operating subsidiary of CW Financial Services LLC which is wholly owned by funds managed by affiliates of Fortress Investment Group LLC. The purchase price will total $220 million, $80 million in cash and approximately $140 million in Walker & Dunlop stock, subject to potential adjustment based on changes in the Company's stock price pending closing. Upon the transaction's close, it is expected that CW Financial will become the Company's largest shareholder. The transaction is expected to close within 90 to 120 days. Full Article
Walker & Dunlop Inc Launches Interim Loan Program
Walker & Dunlop Inc announced the launch of its interim loan program (the program). The program will initially be focused on East Coast markets and will offer floating-rate interim loans to experienced borrowers seeking to acquire or reposition multifamily properties that do not qualify for permanent financing. The Company will service and asset manage loans originated through the program with the ultimate goal of providing permanent, fixed-rate financing on the properties. The program will focus on loans ranging from $5 million to $15 million with loan terms up to two years. Loan term extension options may be available depending on property performance. The Company will fund loans originated through the program using a combination of Company capital and credit facilities. Full Article
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