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Blackstone Mortgage Trust and Walker & Dunlop Announce Multifamily Bridge Lending Exclusive Joint Venture

BLACKSTONE MTG TRUST INC (BXMT)  More Company Research Source: PR Newswire
Last blackstone mtg trust inc earnings: 4/24 04:16 pm Check Earnings Report
PDF NEW YORK, April 24, 2017 /PRNewswire/ -- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) and Walker & Dunlop, Inc. (NYSE: WD) today announced that they have entered into a joint venture to originate, hold and finance multifamily bridge loans. Walker & Dunlop, one of the nation's largest nonbank originators of Fannie Mae, Freddie Mac and U.S. Department of Housing and Urban Development loans, will contribute 15% of the venture's equity capital and BXMT will contribute 85%.  The joint venture's floating rate, first mortgage loan product targets assets prior to their eligibility for permanent agency financing.  This comprises an addressable market estimated to be upwards of $20 billion.Steve Plavin, BXMT's Chief Executive Officer, said, "Walker & Dunlop's market leading multifamily and agency loan footprint makes it an ideal partner for us as we seek to help borrowers bridge their financing until an agency take out.  We are very excited about the increase in investment volume that the joint [Read more]

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