Commercial/Multifamily Briefs From Walker & Dunlop, S&P Global Ratings

Walker & Dunlop to Acquire Alliant Capital and Affiliates

Walker & Dunlop, Bethesda, Md., agreed to acquire Alliant Capital Ltd. and its affiliates, Alliant Strategic Investments and ADC Communities.

Alliant Capital Ltd. Is a privately held alternative investment manager focused on the affordable housing sector through low-income housing tax credit syndication, joint venture development and community preservation fund management. Alliant is the sixth-largest LIHTC syndicator in the U.S. and has participated in the development of more than 100,000 affordable units serving over 400,000 families.

The firms said they expect the transaction to close during the fourth quarter, subject to certain regulatory approvals and consents of Alliant’s investor and lender partners.

Beekman Advisors represented Alliant as financial advisor in the transaction.

Walker & Dunlop will acquire Alliant at a total enterprise value of $696 million.

S&P Global Ratings: U.S. Retailers, Restaurants Face New Challenges as Delta Variant Spreads

The COVID-19 delta variant may present new stumbling blocks for U.S retail and restaurants, said S&P Global Ratings, New York.

But consumers are now adept at preventive measures to minimize spreading the virus and protecting themselves, so capacity limitations will likely only have a “modest impact” on businesses, S&P said in a new report, Just When U.S. Retailers and Restaurateurs Thought It Was Safe To Reopen, The Delta Variant Emerges.

The report said retailers and restaurants will likely ramp up e-commerce, home delivery, curbside pickup and other “workarounds” to partly offset softer brick-and-mortar sales should infection rates rise. “And consumers will likely keep spending but in different categories and at more moderate levels as pent-up demand wanes,” S&P said.

“S&P Global Ratings’ base case is for most restaurants, retailers, and consumer products companies to continue to benefit from consumer spending,” said S&P Global Ratings Credit Analyst Sarah Wyeth. “However, the delta variant could throw a wrench in recovery prospects for some issuers.”

Even if the virus can be contained, other risks appear to be growing, the report said. Labor shortages and supply chain bottlenecks could dampen near-term performance and even persist into the critical holiday shopping season.

S&P noted this report does not constitute a rating action.