Bethesda-Md.-based multifamily and commercial real estate lender Walker & Dunlop has expanded its recently launched conduit and high-yield lending platform with the addition of three new CMBS originators, the company said in a release.
Geoff Smith, the former head of origination and distribution at Manhattan-based Hudson Realty Capital, joined Walker & Dunlop Commercial Property Funding as managing director and head of origination, working out of the company’s New York office.
Kimberly Riordan, a former vice president at Manhattan-based Rockwood Real Estate Advisors, joined the group as vice president, also working out of the New York office.
Paul Jankovsky, the former executive vice president of investment strategies at Albuquerque, N.M.-based BH Capital, joined as senior vice president, working out of Walker & Dunlop’s Dallas office.
The three executives are tasked with originating deals for commercial real estate clients nationwide, the release states.
Additionally, Walker & Dunlop recently contributed its first $58 million of collateralized debt, which includes multifamily and retail loans, for an upcoming joint securitization with Wells Fargo. That securitization has been priced and is expected to close on September 29.
The company’s CMBS platform is on track to contribute $200 million in collateral to future securitizations by the end of the year, according to the lender.
“These hires and the contribution to our first securitization is an indication of the momentum that has been building at Walker & Dunlop since we launched the platform earlier this year,” the company’s chairman and chief executive Willy Walker said in a written statement.
“As a result of the CMBS venture, Walker & Dunlop now has a broader, more diversified lending platform to meet our clients’ needs, and we’re confident that the addition of three talented originators will put us in an even better position to take advantage of the CMBS loan opportunities in the future,” Mr. Walker said.
Walker & Dunlop Commercial Property Funding is a joint venture with Fortress Investment Group, which the companies first announced in November 2013 and launched this February.