Walker & Dunlop Doubles JV Investment with Ivanhoé to $500M

Walker & Dunlop Investment Partners (WDIP), a real estate private equity firm and a subsidiary of Walker & Dunlop, intends to double the size of its programmatic joint venture with Ivanhoé Cambridge, CDPQ’s global real estate portfolio, to $500 million. The partnership, formed in 2021, plans to make preferred equity investments in U.S. residential asset classes.

The joint venture will continue to make preferred equity investments in U.S. multifamily, student housing, and manufactured housing properties, with a concentration on cash-flowing assets in the top 25 MSAs and investment horizons ranging from three to 10 years.

“Our product is designed to help sponsors achieve their desired leverage targets on acquisitions and refinancings while generating compelling risk adjusted cash-on-cash and total return for our programmatic joint venture,” Mitch Resnick, president of WDIP, said.

Ivanhoé Cambridge has an interest in over 1,500 buildings, primarily in the logistics, residential, office and retail sectors. The firm had C$77 billion in real estate assets as of the end of 2023.