Walker & Dunlop Investment Partners, Inc. said Tuesday it had that it has partnered with Ivanhoé Cambridge to form a programmatic joint venture. The JV will make preferred equity investments in multifamily, student housing and manufactured housing properties throughout the U.S..
Its strategy will focus on identifying opportunities with stabilized properties, primarily in the top 25 MSAs, with a range of three- to 10-year investment horizons. The JV aims to address the growing need for flexible gap financing at an attractive cost of capital amid a low cap rate, high-liquidity capital markets environment in the residential space.
“Our product is designed to help sponsors achieve their desired leverage targets with incremental proceeds at a much lower cost of capital than common equity,” said Sam Isaacson, president of Walker & Dunlop Investment Partners. “Ivanhoé Cambridge is a world-class institution, and we look forward to continuing our successful partnership together.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).