Walker & Dunlop expands investment sales business into hospitality sector
Walker & Dunlop today announced its strategic entry into hospitality investment sales with the addition of Jonathan (Jay) Morrow as managing director. Mr. Morrow will lead Walker & Dunlop’s hospitality practice and will be responsible for originating and executing hospitality investment sales and capital placements throughout the United States. He will be based in New York.
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Jay Morrow, Managing Director (Photo: Business Wire)
“Multifamily has been fundamental to Walker & Dunlop’s growth and competitive market position. However, once we have established a defensible market position in multifamily investment sales, similar to our financial business, “Jay Morrow’s deep knowledge of the hospitality industry, transactional track record, and leadership capabilities make him the perfect person to lead this expansion of our company.” Director Willie Walker commented.
The hospitality investment sales market has shown resilience post-pandemic, with annual transaction volume of $12.8 billion in 2020 compared to $49 billion in 2022. In major metropolitan markets, business and leisure travel is driving strong hospitality operating fundamentals, which is driving average daily rates up in certain metropolitan areas. That’s above the pre-pandemic average.
“Institutional investors in commercial real estate invest in numerous asset classes, and the addition of Jay and the team he is building to focus on the hospitality industry is another product Walker & Dunlop offers to our clients. and services,” said Executive Vice President Chris Mikkelsen. President and Head of Investment Sales, Walker & Dunlop: “Jay’s industry experience and leadership are exactly what we need to launch this platform, and we are thrilled to have him join us. Masu.”
Morrow specializes in institutional hotel and resort real estate transactions throughout North America, including investments, brand advisory, and capital placement with domestic and international buyers. Prior to joining Walker & Dunlop, Moreau spent more than 15 years at Hodges Ward Elliott, where he led the firm’s New York City hotel team and completed more than $20 billion in lodging transactions.
Walker & Dunlop has extensive experience in the capital markets of the hospitality industry, spanning equity, debt capital, valuation, loan repayment and investment banking. Typical transactions include:
Aman New York Hotel & Residences: $754 million SOHO Beach House Miami: $140 million Moxy and AC Hotel Los Angeles: $325 million Lexington Hotel New York: $155 million
Learn more about the company’s hospitality practice expertise.
Walker & Dunlop is a leader in multifamily sales, having completed more than $51 billion in real estate sales since 2021. The company is also one of the largest providers of capital to the U.S. multifamily market. In 2023, Walker & Dunlop originated more than $24 billion in debt financings, including more than $500 million in hospitality financings. Please visit our website to learn more about our capabilities and financing options.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate financing and advisory services firms in the United States. Our ideas and funding create communities where people live, work, shop and play. Our diversity of people, breadth of brands and technical strength make us one of the most insightful and customer-focused companies in the commercial real estate industry.
Investor:
kelsey duffy
Investor information
Phone number 301.202.3207
investorrelations@walkeranddunlop.com
media:
Nina H. von Waldegg
Vice President of Public Relations
Phone number 301.564.3291
info@walkeranddunlop.com
Phone number 301.215.5500
7272 Wisconsin Avenue, Suite 1300
Bethesda, Maryland 20814
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