Walker & Dunlop's (NYSE:WD) interim loan program (ILP) uses the company's own balance sheet to provide short-term loans for those properties not yet qualifying for permanent financing from the GSEs. Since ILP started in 2012, the company has gone on to arrange permanent financing for 87% of the loans it provided.
This particular deal was for the acquisition of a North Carolina apartment community, and the amount of Walker & Dunlop's bridge loan was $26M. WD subsequently arranged a 7-year Freddie Mac deal.
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