Bethesda, MD-based Walker & Dunlop, Inc., has completed the acquisition of GeoPhy, a commercial real estate technology company.

Walker & Dunlop acquired GeoPhy for $85 million in cash paid at closing with an additional $205 million of cash earn-out potential structured to directly align with Walker & Dunlop’s Drive to ’25 goals surrounding growth in appraisal revenues, SBL volumes, and mortgage banking gains.

“GeoPhy’s technology capabilities will allow us to dramatically accelerate the growth of our digitally driven businesses, including Apprise, our tech-enabled appraisal business, and our small balance lending (SBL) platform as we continue to differentiate the Walker & Dunlop platform through our people, brand and technology,” said Aaron Perlis, Walker & Dunlop chief information officer stated.