Walker & Dunlop Investment Partners has partnered with Ivanhoé Cambridge to form a programmatic joint venture.
The joint venture will make preferred equity investments in multifamily, student-housing and manufactured-housing properties throughout the United States. Its strategy will focus on identifying opportunities with stabilized properties, primarily in the top 25 MSAs, with a range of three- to 10-year investment horizons. The venture aims to address the growing need for flexible gap financing at an attractive cost of capital amid a low-cap-rate, high-liquidity capital markets environment in the residential space.
Sam Isaacson, president of Walker & Dunlop Investment Partners, said, “Our product is designed to help sponsors achieve their desired leverage targets with incremental proceeds at a much lower cost of capital than common equity. Ivanhoé Cambridge is a world-class institution, and we look forward to continuing our successful partnership togeth