Walker & Dunlop, Pacific Life To Form $500 Mln Joint Venture

(RTTNews) - Walker & Dunlop, Inc. (WD), said on Wednesday that it has joined hands with Pacific Life to establish a $500 million programmatic joint venture or JV with a view to making equity investments in multifamily and industrial properties across the U.S. With a focus on the middle market of real estate, the JV will invest $15 million to $50 million in equity per deal alongside sponsors with track records of successful value-add transactions.

WDIP expects the partnership to invest in up to 30 assets with a total value in excess of $1.5 billion.

Mitch Resnick, President of WDIP, said: "With the current market dynamics in commercial real estate, industrial and multifamily provide more stability than other property types, and we continue to see a steady deal flow of attractive value-add opportunities in these asset classes."