Walker & Dunlop has acquired JCR Capital, which has more than $800million in assets under management.
“The acquisition of JCR, a registered investment adviser with an established asset base and track record, is an important step towards our goal of building an $8 billion to $10 billion asset management business at Walker & Dunlop by 2020,” said Walker & Dunlop chairman and CEO, Willy Walker.
JCR’s co-founders and managing principals, Jay Rollins and Maren Steinberg, will continue to lead JCR’s daily operations as part of Walker & Dunlop.
The acquisition of JCR will bring Walker & Dunlop’s total assets under management to more than $1 billion, inclusive of the company’s portfolio of multifamily bridge loans through its joint venture with Blackstone Mortgage Trust. Walker & Dunlop expects the all-cash transaction to close in the second quarter of 2018. The transaction is subject to customary closing conditions.