Walker & Dunlop wraps up acquisition of Johnson Capital.
M2 EQUITYBITES-November 4, 2014-Walker & Dunlop wraps up acquisition of Johnson Capital
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4 November 2014 - US commercial real estate financing solutions provider Walker & Dunlop Inc (NYSE:WD) announced it had closed the acquisition of domestic sector player Johnson Capital and its loan servicing platform without revealing the value of the deal.
According to the buyer, the transaction will be funded through cash and stock and is expected to have a positive effect on earnings per share in 2015. The acquisition was structured as an asset purchase, Walker & Dunlop said.
The two companies have a long partnership history, with Johnson Capital previously being one of the biggest mortgage banking correspondents for Walker & Dunlop. The combination would expand the buyer's brokerage footprint across the country, just ahead of an expected real estate refinance spree, according to the statement.
Walker & Dunlop COO Howard Smith commented that the acquisition would have a positive effect on the company's brokered, agency and proprietary originations and would facilitate its growth.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Nov 4, 2014|
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