Walker & Dunlop Investment Partners (WDIP) has announced it plans to double the size of its programmatic joint venture with Ivanhoé Cambridge, to $500 million. The partnership, initially formed in 2021, intends to make preferred equity investments in residential asset classes across the United States.

The joint venture will continue to make preferred equity investments in multifamily, student housing and manufactured housing properties throughout the United States, focusing on cash-flowing assets, primarily in the top 25 MSAs, with a range of three- to 10-year investment horizons. The venture will continue to address the growing need for preferred equity at an attractive cost of capital in a challenging debt capital market environment.

“Over the last two years we have refined a reliable preferred equity structure and efficient underwriting process that allows us to provide certainty of execution,” says Mitch Resnick, president of WDIP. “Our product is design