Walker & Dunlop arranged a $192 million refinance for a four‑property, 1,137‑unit multifamily portfolio owned by Cortland Partners. The loan, secured by Freddie Mac, covers Cortland at the Hammocks I & II in Miami (720 units), Huntington Glen in Dallas (224 units), and Cortland Congress Park in Denver (193 units).
The transaction is part of Walker & Dunlop’s broader strategy to deepen its capital‑markets footprint. It adds to the firm’s Q3 2025 transaction volume of $15.5 billion, a 34 % year‑over‑year increase, and represents a sizable contribution to the capital‑markets segment, which has been a key driver of the company’s revenue growth.
Cortland’s comprehensive capital‑improvement program—encompassing interior upgrades, amenity enhancements, and site‑level improvements—has raised the portfolio’s value and supported the refinance terms. An independent appraisal conducted through Walker & Dunlop’s Apprise platform confirmed the assets’ valuation, giving Freddie Mac confidence in the loan’s collateral.
Senior Managing Director Stephen Farnsworth said, “We’re proud to have arranged this portfolio refinancing for Cortland alongside long‑standing lending partner Freddie Mac. Since acquisition, Cortland has invested meaningfully in these communities, successfully executing its value‑add strategy and repositioning the assets within their respective markets.”
The refinance comes amid a broader trend of increased multifamily origination activity by Freddie Mac, which projects $370 billion to $380 billion in 2025. While interest rates remain elevated, demand for rental housing continues to be driven by demographic tailwinds and affordability challenges, creating a favorable environment for value‑add strategies.
Walker & Dunlop’s Q3 2025 earnings report, released earlier in the month, showed a 16 % rise in revenue to $338 million and a 15 % increase in diluted earnings per share to $0.98, beating analyst expectations. The refinance adds to the company’s momentum, reinforcing its partnership with Freddie Mac and positioning it to capture further opportunities in the multifamily market, even as it navigates headwinds such as high supply in certain markets and the lingering impact of elevated interest rates.
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