Commercial/Multifamily Briefs, Feb. 8, 2023

(Image courtesy of Markus Winkler via

CBRE Agrees to Acquire J&J Worldwide Services

CBRE, Dallas, announced an agreement to acquire J&J Worldwide Services, a provider of engineering services, base support operations and facilities maintenance, from Arlington Capital Partners.

The initial purchase price is $800 million, plus a potential earn-out of up to $250 million payable in 2027 and subject to certain conditions.

J&J primarily serves the U.S. Department of Defense through long-term fixed-price contracts.

Walker & Dunlop Investment Partners Closes Multifamily Debt Fund

Walker & Dunlop Investment Partners, Bethesda, Md., announced it closed its latest fund, part of a planned series of funds focused on multifamily bridge financing.

The WDIP team is led by Geoff Smith, Marcus Duley and Mitch Resnick. It will originate value-add multifamily bridge loans with a targeted Agency exit.

The fund has $157,500,000 of equity commitments and intends to utilize leverage to support between $450 million and $600 million in lending capacity, WDIP said. The fund’s core strategy is to originate senior secured bridge mortgage loans with a maximum stabilized loan to value of 75%, with a target size between $10 million and $100 million, secured by multifamily assets nationwide.