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Walker & Dunlop to buy alternative investment manager

Walker & Dunlop Inc. has agreed to acquire JCR Capital Investment Corp., a Denver-based alternative investment manager with more than $800 million in AUM.

The all-cash transaction is expected to close in the second quarter, subject to customary closing conditions, including obtaining applicable consents from existing investors in JCR Capital funds.

The acquisition is expected to bring Walker & Dunlop's total AUM to more than $1 billion, inclusive of the specialty lender's portfolio of multifamily bridge loans through its joint venture with Blackstone Mortgage Trust Inc.

Co-founders and managing principals Jay Rollins and Maren Steinberg will continue to lead JCR Capital's daily operations as part of Walker & Dunlop.

Walker & Dunlop Chairman and CEO Willy Walker said the acquisition will contribute to the company's goal of building an $8 billion to $10 billion asset management business by 2020.