Walker & Dunlop Inc. has acquired the loan origination platform of New Jersey-based commercial mortgage brokerage and advisory firm Deerwood Real Estate Capital.
The terms of the cash transaction were not disclosed. Deerwood has closed more than $1.5 billion in loan origination volume in the last 12 months. The acquisition does not bring additional loan servicing to Walker & Dunlop.
As part of the acquisition, 16 commercial loan originators are expected to join Walker & Dunlop's capital markets group, including Deerwood co-founders David Rosenberg and Abe Katz.