Bethesda-based Walker & Dunlop Inc. (NYSE: WD) has acquired Atlanta-based mortgage banking firm iCap Realty Advisors, the companies announced Friday.
Terms of the deal were not disclosed.
iCap Realty Advisors, founded in 1997 as Alliance Realty Advisors, offers both loan origination and servicing. It services approximately $2 billion of life insurance company loans, almost all of which will be added to Walker & Dunlop’s portfolio by end the of the year. In 2017, iCap originated roughly $4.6 billion of commercial loans.
“With the goal to grow our annual loan originations to $30 to $35 billion by the end of 2020, we have been very focused on expanding our Capital Markets presence into major markets where we are under-represented, such as Atlanta.” Walker & Dunlop CEO Willy Walker said in a statement.
iCap’s five bankers and brokers and their support staff have joined Walker & Dunlop’s capital markets group.
Through the end of September, Walker & Dunlop had closed $5.7 billion in…Read the full story from the Washington Business Journal.