Magazine article Mortgage Banking

Walker & Dunlop to Acquire CWCapital

Magazine article Mortgage Banking

Walker & Dunlop to Acquire CWCapital

Article excerpt

Walker & Dunlop, Bethesda, Maryland, entered into a definitive agreement on June 8 to acquire CWCapital, Needham, Massachusetts, from Fortress Investment Group, New York, for $8o million in cash and $14.0 million in stock.

The combination creates one of the largest commercial real estate lenders in the United States with $7.7 billion in 20 11 commercial real estate loan originations. The combined firms will also become the nation's second-largest multifamily lender.

"CWCapital is an exceptional company with an outstanding team and a corporate culture very similar to Walker & Dunlop's," said Willy Walker, chairman, president and chief executive officer of Walker & Dunlop. His grandfather, Oliver Walker, founded the firm in 1937 with Laird Dunlop.

Michael Berman, CMB, chief executive officer of CWCapital, an operating subsidiary of CW Financial Services and an affiliate of Fortress Investment Group, will take a senior leadership role at Walker & Dunlop. He is a past chairman of the Mortgage Bankers Association.

"We believe that the combined franchise has enormous potential, and we are pleased to become a major shareholder of Walker & Dunlop," stated Pete Briger and Wesley Edens, co-chairmen of Fortress Investment Group, in a press release. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.