Walker & Dunlop Arranges Joint Venture Agreement for Build-for-Rent Developer, Avanta Residential, and Invesco Real Estate

BETHESDA, Md., November 18, 2021 / PRNewswire / – Walker & Dunlop, Inc. announced today that it has structured a joint venture partnership between Avanta Residential, a developer for rent (BFR) and Invesco Real Estate, a global real estate investment manager. As part of the transaction, Invesco Real Estate acquired 75% of Avanta Residential, which is developing more than 20 residential areas and around 5,000 apartments. Avanta was founded in 2020 and plans to create over 40 neighborhoods over the next few years.

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Walker & Dunlop’s dedicated BFR team acted as exclusive advisor to Avanta Residential and helped the company find a joint venture partner to provide both funding and assistance in executing its business plan. The team has teamed up with Dallas-based Invesco Real Estate for the joint venture. In addition to brokering the transaction, the Walker & Dunlop team played a key role in developing the terms of the contract and providing support throughout the negotiation process.

“The Walker & Dunlop team acted with ingenuity and expertise in this equity deal. They met and exceeded the requirements of this complex transaction,” commented Jim Dobbie, President of Avanta Residential. “Her extensive knowledge of the BFR asset class and her advisory role were crucial in finding the ideal equity partner.”

Carnes cliff, Senior Vice President and Chief Production Officer of Walker & Dunlop, added, “Our team was thrilled to advise Avanta on this exciting programmatic pay raise. This transaction is testament to the strength of Avanta’s vision and execution capabilities.” He continued, “Combining our group’s focus on structured finance with the strength of our dedicated BFR team enabled Walker & Dunlop to find an equity partner whose experience and capital structure matched our client’s.”

BFRs are purpose-built apartments operated as a single-family rental investment within a contiguous community. This fast-growing asset class is emerging as one of the strongest sectors in the commercial real estate space, and it is estimated that 5-10% of newly built homes are for BFR communities. The product is enjoying steadily growing popularity due to the current demographic trends related to Gen-Y and baby boomers. As more and more young families, families with children and retirees want to rent single-family homes with yards and upscale amenities on a long-term basis – and migration patterns related to COVID-19 have accelerated demand. As the demand for BFR real estate grows, more and more larger investors are adding the product to their investment strategies.

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Walker & Dunlop’s BFR & SFR Practice Group consists of 12 experts strategically positioned across the company to fund and sell these specialty communities. Our national team offers expert advice on real estate sales, borrowing and equity structuring in order to achieve optimal returns and strategic relationships for our clients. The team is active in this area with over fifty groups, ranging from institutional customers, home builders, and multi-family developers to individual investors. With an active pipeline of over $ 1.9 billion In terms of transaction volume, the team has extensive experience in executing credit, brokerage or asset sales opportunities. For more information on our Build for Rent practice group or to get in touch with an advisor, visit our website.

About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is the largest financier for the multi-family business in The United States and the fourth largest lender to all commercial real estate, including industrial, office, retail, and hospitality sectors. Walker & Dunlop enables real estate owners and operators to bring their visions of communities – where Americans live, work, shop and play – to life. The power of our people, the leading brand and industry leading technology make us more insightful and valuable to our customers, delivering an unmatched experience every step of the way. With over 1,000 employees in all major US markets, Walker & Dunlop is consistently recognized as one of Fortune’s Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while at the same time introducing significant social, environmental and economic changes affect our communities.

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SOURCE Walker & Dunlop, Inc.