Walker & Dunlop, Inc. and Pretium have announced a $250 million joint venture that will deliver short‑term bridge loans for affordable multifamily projects. The new vehicle, named Walker & Dunlop Affordable Bridge Capital, will offer loans ranging from $10 million to $75 million with terms of 6 to 36 months, targeting properties that are being acquired, refinanced, or positioned for long‑term government‑affordable programs such as the Low‑Income Housing Tax Credit (LIHTC), Section 8, or tax‑exempt bonds.
The partnership leverages Walker & Dunlop’s deep expertise in affordable housing and its relationships with government‑sponsored enterprises, while tapping Pretium’s capital strength and experienced multifamily team. By combining these capabilities, the joint venture aims to fill a financing gap that has long constrained developers, enabling them to act quickly in competitive markets and secure permanent takeout through agency and HUD programs.
Walker & Dunlop’s recent financial results show revenue growth in Q4 2024 and Q1 2025, although net income declined due to higher operating expenses. Pretium continues to focus on affordable housing, having raised capital for single‑family funds and maintaining a robust portfolio of affordable properties. The new venture aligns with both companies’ strategic priorities to deepen their presence in the affordable housing sector.
Sheri Thompson, Executive Vice President and Head of Affordable Housing at Walker & Dunlop, said the joint venture “combines our deep affordable housing expertise with Pretium’s capital strength and highly experienced multifamily team, giving clients the ability to act quickly in competitive markets.” Jonathan Pruzan, Co‑President of Pretium, added that the partnership “helps address the shortage of quality affordable housing in communities across America.”
Strategically, the vehicle expands Walker & Dunlop’s service offering beyond traditional capital‑markets and servicing activities, positioning the firm to capture a growing segment of the multifamily market that benefits from its GSE relationships and proprietary technology platforms. For Pretium, the partnership reinforces its commitment to affordable housing and provides a new channel to deploy capital in a high‑impact area.
The joint venture comes amid a persistent shortage of affordable housing and increasing demand for LIHTC and Section 8 properties. By offering flexible, interest‑only bridge financing, the partnership aims to accelerate development and preservation projects that will ultimately be financed through long‑term government programs, thereby expanding the pipeline of affordable units in communities nationwide.
The $250 million capital commitment signals confidence in the affordable housing market and provides developers with a new source of short‑term capital to bridge the gap between acquisition and permanent financing, potentially accelerating the delivery of affordable units to underserved communities.
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