Adam Schwartz, Aaron Appel, Jonathan Schwartz and Keith Kurland
Co-Head of New York Capital Markets; Senior Managing Director & Co-Head NY Capital Markets; Co-Head of New York Capital Markets; and Senior Managing Director at Walker & Dunlop
Last year's rank: 13
“Our business has followed much in the way of many of our clients and market trends,” Keith Kurland said.
In 2021, Walker & Dunlop’s New York team racked up $7.3 billion in total transactions, as part of the firm’s $48.9 billion total debt originations. Notable transactions in 2020 included a $1.4 billion construction loan provided by Blackstone for Witkoff and Access Industries’ XI condo project at 76 11th Avenue; a $395 million in financing for Blackstone’s acquisition of Project Archer, a multifamily development in Fairfax, Va.; and a $300 million construction financing for Westminster Capital’s age-restricted housing development The Mather Tysons in McLean, Va.
With a tremendous amount of liquidity chasing deals, the company was able to leverage its relationships and market fervor into some of the best capital markets executions.
W&D’s New York capital markets team executed assignments spread across debt and equity placements, note sales and other advisory work. Its portfolio has also grown dramatically from a market standpoint throughout COVID-19.
“Several years ago, we made it a point to diversify geographically, not just from an asset class perspective,” Kurland said. “That target and thesis have played out well for our business as we have been incredibly active throughout the Sun Belt, South Florida, the Intermountain West and the West Coast.”
Almost half of W&D’s business during the past year was from vertical construction or heavy reposition financings, with the remaining being split amongst acquisitions and refinances.
The company also continued its ESG and diversity and inclusion efforts this past year, and currently has five employee resource groups.
As for 2022, “we’ve seen sales and gross investment dollars pick up dramatically in New York over the last six to nine months, which has been a very interesting trend,” Kurland said. “As New Yorkers, we’re very happy to see renewed vigor in business, local economy and markets.” —E.F.
