Bethesda’s Walker & Dunlop makes $700M investment in affordable housing

Bethesda, Maryland-based real estate finance company Walker & Dunlop Inc. will acquire Alliant Capital Ltd., one of the nation’s largest developers and financers of affordable housing projects, in a deal valued at $696 million.

The acquisition will significantly increase Walker & Dunlop’s assets under management, adding $14 billion of affordable assets.

“The addition of their people, assets and capital formation capabilities immediately makes Walker & Dunlop a market leader in affordable housing,” said CEO Willy Walker.

Alliant Capital specializes in lending and financing for affordable housing project developers, as well as sales. It is a leader in tax credit syndication, working with investors seeking tax credits as well as developers with affordable housing tax credits who are seeking financing.

The acquisition includes $351 million in cash, the assumption of $155 million of Alliant Capital’s debt, $90 million in Walker & Dunlop stock and $100 million earned-out payment if certain future performance conditions are met.

Walker & Dunlop, with more than 1,000 workers, had $1.1 billion in revenue during the 2020 fiscal year.

Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

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