Walker & Dunlop Multifamily Fund I
Walker & Dunlop Multifamily Fund I is a private equity fund managed by Walker & Dunlop on behalf of Fannie Mae. The Fund invests in the acquisition, development, and redevelopment of apartment and condominium communities through joint ventures with local operating partners. The Fund has invested in $240 million of multifamily assets since 2005.
The Fund focuses on investments east of the Mississippi River, including:
- Value-Added Investments: Targets investments in existing apartment communities that may be below institutional grade in their present state but with the ability, through intensive management and capital investment, to become institutional grade.
- New Development Opportunities: Targets investments in to-be-built apartment or for-sale housing communities, generally preferring, but not limited to, those with affordable or moderately priced units set aside as part of the unit mix and convenient to both mass transportation and employment centers.
- Mezzanine Debt Investments: Targets investments in existing apartment and condominium communities where local operating partners may have trapped equity due to rapidly increasing property values, conservative leverage, and/or prepayment lock-out on existing first trust.
The sizes of the Fund’s investments vary depending on the opportunity and market conditions. Generally, the Fund seeks real estate investments requiring $3 million to $10 million in equity capital.
The success of the Fund’s investments is due to careful selection of properties and operating partners in addition to the extensive experience of the firm and its principals.
Walker & Dunlop Balanced Real Estate Fund I
The W & D Balanced Real Estate Fund I, L.P. (“Balanced Fund”) began operations July 25, 2007. It is a closed-end commingled commercial real estate fund formed with the flexibility of making investments in traditional debt, structured debt, and equity. The Balanced Fund’s permitted investments include: (i) whole loans, commercial mortgage backed securities (“CMBS”), B-Notes, collateralized debt obligations (“CDOs”), preferred equity, mezzanine loans, bridge loans and other real estate structured finance products, and (ii) equity interests in real estate ventures, and fee interests in real estate that produce current income.
