Reuters: Private Equity: UPDATE 1-Walker & Dunlop to buy CWCapital for $220 mln

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UPDATE 1-Walker & Dunlop to buy CWCapital for $220 mln Jun 8th 2012, 10:48 Fri Jun 8, 2012 6:48am EDT * CW Financial to become co's largest shareholder after deal * CWCapital's CEO will take up senior leadership role at co June 8 (Reuters) - Walker & Dunlop Inc, which provides commercial real estate financial services, will buy lender CWCapital LLC for $220 million to increase its servicing portfolio. CWCapital is a subsidiary of CW Financial Services LLC, which is wholly owned by asset manager Fortress Investment Group LLC. The purchase price will include $80 million in cash and about $140 million in Walker & Dunlop stock, the company said in a statement. Walker & Dunlop originates and sells a range of multi-family and other commercial real estate financing products. After the deal closes, CW Financial will become Walker & Dunlop's largest shareholder. Michael Berman, CEO of CWCapital, will take a senior leadership role at Walker & Dunlop. The company said in May that its loan originations for the first quarter were $674.5 million, up 33 percent from a year ago. Walker & Dunlop shares, which have lost about 11 percent of their value since the company reported results last month, closed at $11.26 on Thursday on the New York Stock Exchange. Link this Share this Digg this Email Reprints

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