Q4-2023 Commercial Real Estate Insights – Walker and Dunlop Investment Partners – 11.22.23

Summary:

Now On Demand

The investment team at Walker & Dunlop Investment Partners (“WDIP”) will provide a comprehensive update on the commercial real estate market and where it sits today. As part of one of the largest commercial real estate finance firms in the county, WDIP will share insights from its parent company’s $127B loan servicing portfolio and $60B+ annual transaction volume. WDIP will cover the impact increased interest rates have had on the market, and where opportunities and distress are anticipated.

Accepted for 1 CFP^® / IWI / CFA CE Credit

Speakers:

Mr. Duley is responsible for leading the strategic development and execution of WDIP’s investment mandates for both the debt and equity investment management platforms. Mr. Duley is a voting member of the Funds’ Investment Committee.

Prior to joining WDIP, Mr. Duley was a Managing Director at LEM Capital (“LEM”), an institutional real estate private equity fund manager. In this role he led the firm’s portfolio management and investment transaction execution functions where he coordinated, negotiated and provided oversight for all investment related transactions including acquisitions, financings and dispositions for over $3 billion of real estate. He oversaw the firm’s valuation process and fund level projections, subscription facilities and worked closely with the acquisition, asset management and accounting departments on a wide range of operational, reporting and portfolio management processes and procedures. He also was a member of the firm’s Investment Committee and Valuation Committee. Prior to LEM Capital, Mr. Duley was a Vice President at LEM Mezzanine, the predecessor firm to LEM, which originated and invested in structured commercial real estate debt. In this position he managed the underwriting, due diligence, loan documentation, intercreditor/co-lender agreement documentation and closings of $360 million of primarily subordinated debt investments in $2.6 billion of real estate. Additionally, he was responsible for loan workouts and restructuring for special assets.

Before joining LEM Capital and its predecessor, Mr. Duley was a Commercial Real Estate Credit Manager at Wachovia Bank and prior to business school he was a Client Service Representative at the Vanguard Group and a Field Marketing Specialist at Black & Decker.

Mr. Duley holds a Bachelor of Business Administration from Loyola University Maryland and a Master of Business Administration from Temple University.

Mr. Cornell oversees an 8-member team responsible for sourcing, structuring and underwriting investment opportunities across the fund investment platform. Under Mr. Cornell’s leadership the equity platform has closed over $600M of equity commitments over 60+ transactions. Mr. Cornell is a voting member of the Funds’ Investment Committee.

Prior to joining WDIP, Mr. Cornell was a Senior Vice President at Amstar, a Denver-based real estate private equity firm. While at Amstar, Mr. Cornell was responsible for sourcing, underwriting, negotiating, and asset managing value-add investments across multiple product types across the U.S. Before Amstar, Mr. Cornell served as Vice President at Broe Real Estate, overseeing asset management of Broe’s national office portfolio. Mr. Cornell began his career in Los Angeles at Secured Capital (now Eastdil Secured), where he assisted on investment sale and debt placements exceeding $3 billion in total transaction volume.

Mr. Cornell holds a Bachelor of Science in Economics with a concentration in Finance and Accounting from the Wharton School of the University of Pennsylvania.

Mr. Coe joined WDIP in 2016 as an Associate and is currently a Senior Director on the equity investment platform. His responsibilities include sourcing and analyzing potential investments, deal structuring, financial modeling, due diligence, joint venture and loan document negotiation, and property and portfolio valuation.

Prior to joining WDIP, Mr. Coe was a Senior Analyst with Real Capital Solutions, a real estate focused family office, with approximately $1.2 billion in assets under management, where he was responsible for underwriting and managing a wide variety of commercial real estate investments. While at RCS, Mr. Coe underwrote, sourced debt and equity capital, and asset managed a wide variety of transactions, including value-add commercial real estate, ground-up condominium & multifamily developments, land transactions, and distressed note purchases in the U.S. and Spain.

Mr. Coe is a graduate of the University of Colorado at Boulder where he earned a Bachelor of Science in Business Administration with an emphasis in Finance.

Mr. Croy joined WDIP in 2019 as an Associate and is currently a Director. His responsibilities include capital raising for the firms fund vehicles as well as sourcing, analyzing and structuring potential investments.

Prior to joining WDIP, Mr. Croy was an Associate with Amstar, a global real estate private equity firm focused on opportunistic real estate investments in the U.S., Eastern Europe, and other emerging markets. In this role, he was primarily responsible for managing existing fund investments in Turkey, Russia, Ukraine and India as well as sourcing opportunistic joint venture opportunities in Eastern Europe. Before Amstar, Mr. Croy was an Investment Analyst at Edens, a privately-owned retail REIT. At Edens, Mr. Croy played a key role in the ~$800 million acquisition of AmREIT (NYSE: AMRE) in February 2015 on behalf of Blackstone, J.P. Morgan and NYSTRS.

Mr. Croy holds a Bachelor of Arts in Economics from Harvard University.