Jay Thomas

Jay Thomas, senior managing director, is responsible for nationwide loan origination and is based out of Walker & Dunlop’s Denver office. He focuses on sourcing new multifamily loans, primarily through Fannie Mae, Freddie Mac, HUD and the company’s proprietary bridge loan executions. Thomas brings more than 20 years of multifamily finance experience ranging from one-off loan executions to large structured and portfolio transactions.  

Thomas joined Walker & Dunlop in 2003 as a member of the multifamily finance underwriting department and was quickly promoted into Walker & Dunlop’s multifamily finance production department in 2005. Since then, he has originated more than $6 billion in multifamily mortgages nationwide, including market rate, affordable, student, seniors, and manufactured housing properties.  

Jay Thomas leads a team of three that demonstrates exceptional insight and negotiating skill in real estate finance, particularly evident in their notable transactions in 2023. One significant deal involved The Lodge, a property outside of Seattle, built in four phases. While Thomas’s team had financed the first three phases, the sponsor sought an individual loan for the final phase. Instead of simply providing financing for phase four, Thomas’s team proposed a full refinance of the entire project, leveraging the combined occupancy and collection of all four phases. This innovative approach allowed for near-stabilization financing with Fannie Mae.  

By refinancing all four phases together, Thomas’s team was able to provide the sponsor with significant proceeds, effectively cashing them out. Despite phase four not having an affordability component, the entire project boasted high affordability. Leveraging this, Thomas’s team structured the refinance at a lower rate than they would have for phase four only, demonstrating their ability to creatively leverage existing assets to optimize financing terms. Moreover, their understanding of the local market dynamics, particularly in a growing submarket of Seattle, allowed them to identify and capitalize on opportunities for affordability-driven projects. 

These are some of the reasons we selected Jay Thomas for inclusion in the 2024 Connect CRE Top Mortgage Brokers and Lenders Awards. These awards recognize industry professionals who have demonstrated the highest standards in commercial real estate finance.