Commercial Briefs: Walker & Dunlop, JLL

Walker & Dunlop to Acquire $3.8 Billion HUD Servicing Portfolio

Walker & Dunlop, Bethesda, Md., agreed to purchase commercial mortgage servicing rights associated with a $3.8 billion servicing portfolio from Oppenheimer Multifamily Housing and Healthcare Finance, North Wales, Pa. The portfolio includes more than 480 HUD-insured multifamily and healthcare loans.

The acquisition should close on June 20, making Walker & Dunlop the largest HUD Multifamily/Healthcare servicer in the U.S. The company will use available capital to fund the $45 million purchase price.

Walker & Dunlop CFO Stephen Theobald said the firm decided in 2012 to increase the proportion of revenue that comes from servicing and other non-transaction-based fees. “Over the past several years, the servicing portfolio has seen steady growth with the value of its revenue streams becoming increasingly apparent in the financial stability and flexibility provided to the business,” he said.

JLL to Acquire Workplace Technology and Management Firm BRG

JLL, Chicago, agreed to acquire BRG, Dallas, which provides workplace technology consulting and space management services. The transaction will close next month, subject to customary closing conditions.

JLL Americas CEO Greg O’Brien said the firm seeks to give clients better data and new insights to make informed business decisions. He said JLL will form a new Technology Solutions team led by current BRG President and CEO Traci Doane.