BETHESDA, Md., Feb. 28, 2022 /PRNewswire/ -- Walker &
Dunlop, Inc. announced today that it closed on the previously
announced acquisition of GeoPhy, a leading commercial real estate
technology company.
Aaron Perlis, Walker & Dunlop
Chief Information Officer stated, "We are excited to officially
welcome GeoPhy founder and CEO, Teun van
den Dries, and his entire team to Walker & Dunlop.
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."
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.
About Walker & Dunlop
Walker &
Dunlop (NYSE: WD) is the largest provider of capital to the
multifamily industry in the United
States and the fourth largest lender on all commercial real
estate including industrial, office, retail, and hospitality.
Walker & Dunlop enables real estate owners and operators to
bring their visions of communities — where Americans live, work,
shop and play — to life. The power of our people, premier brand,
and industry-leading technology make us more insightful and
valuable to our clients, providing an unmatched experience every
step of the way. With over 1,000 employees across every major
U.S. market, Walker & Dunlop has consistently been named
one of Fortune's Great Places to
Work® and is committed to making the
commercial real estate industry more inclusive and
diverse while creating meaningful social, environmental,
and economic change in our communities.
Forward Looking Statements
The statements relating to
the growth of our emerging businesses and our SBL platform may
constitute forward-looking statements within the meaning of the
federal securities laws. The forward-looking statements reflect our
current views about future events and are subject to numerous known
and unknown risks, uncertainties, assumptions and changes in
circumstances that may cause actual results to differ significantly
from those expressed or contemplated in any forward-looking
statement.
While the forward-looking statements reflect our good faith
projections, assumptions and expectations, they are not guarantees
of future results. Furthermore, we disclaim any obligation to
publicly update or revise any forward-looking statement to reflect
changes in underlying assumptions or factors, new information, data
or methods, future events or other changes, except as required by
applicable law. Factors that could cause our results to differ
materially include, but are not limited to (1) general economic
conditions and multifamily commercial real estate market
conditions, and (2) our ability to successfully integrate GeoPhy's
operations into our current business, including the retention of
their employees, and achieve the expected benefits from the
acquisition.
For a further discussion of these and other factors that could
cause future results to differ materially from those expressed or
contemplated in any forward-looking statements, see the section
titled ''Risk Factors" in our most recent Annual Report on Form
10-K, as it may be updated or supplemented by our Quarterly Reports
on Form 10-Q and our other filings with the SEC. Such filings
are available publicly on our Investor Relations web page at
www.walkerdunlop.com.
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SOURCE Walker & Dunlop, Inc.