Source: Walker & Dunlop / #Multifamily #Finance
BETHESDA, MD - Walker & Dunlop announced that it successfully completed its previously announced acquisition of Johnson Capital's loan origination and servicing platform. Johnson Capital, formerly one of Walker & Dunlop's largest mortgage banking correspondents, was a leading commercial real estate capital intermediary with direct lender relationships through Freddie Mac, HUD and many life insurance companies.
The combination of Johnson Capital's team of real estate finance professionals and long-standing correspondent relationships will expand Walker & Dunlop's national brokerage footprint in anticipation of the upcoming commercial real estate refinance wave. Guy Johnson, Chairman & CEO of Johnson Capital, brings his many years of commercial real estate experience to Walker & Dunlop in the role of Vice Chairman of the Capital Markets group.
"We are excited to officially bring the Johnson Capital team on board and are confident the integrated team will add significant value to Walker & Dunlop's brokered, agency, and proprietary originations. The addition of these talented originators and their collective experience furthers Walker & Dunlop's strategic goal of expanding our capital markets platform. The acquisition of Johnson Capital accelerates our progress towards becoming the premier commercial real estate finance company in the United States," commented Howard Smith, Walker & Dunlop's Executive Vice President and Chief Operating Officer.
Walker & Dunlop does not expect the transaction to have a material impact on its fourth quarter 2014 financial results but expects the transaction to be accretive beginning in 2015. The acquisition was structured as an asset purchase.