Walker & Dunlop To Buy GeoPhy For $85 Mln Cash

(RTTNews) - Walker & Dunlop, Inc. (WD), a provider of real-estate financing services, said on Monday that it has inked a deal to acquire GeoPhy, a commercial real estate technology firm, for $85 million in cash plus certain milestone payments.

The transaction, expected to close in the first quarter of 2022, has a further $205 million of cash earn-out potential depending on Walker & Dunlop's Drive to '25 goals surrounding growth in appraisal revenues, small balance lending (SBL) volumes, and mortgage banking gains.

Walker & Dunlop CEO Willy Walker said: "As our current JV partner in Apprise, we are well acquainted with the GeoPhy team and their capabilities. Actionable technology- that makes our bankers and brokers more insightful and capable-is what has differentiated Walker & Dunlop, and the acquisition of GeoPhy immediately enhances our capabilities."