Walker & Dunlop to buy Alliant Capital for $696m

Walker & Dunlop to buy Alliant Capital for $696m

Walker & Dunlop has agreed to acquire Alliant Capital and its affiliates, Alliant Strategic Investments and ADC Communities, an investment management firm focused on providing low-income tax credit syndication for the development and financing of affordable multifamily rental housing throughout the United States.

Under the terms of the purchase agreement, Walker & Dunlop will acquire Alliant at a total enterprise value of $696 million.

According to Walker & Dunlop, Alliant is the 6th largest low-income housing tax credit(LIHTC) syndicator in the United States, and since inception, has participated in the development of over 100,000 affordable units serving over 400,000 families.

Walker & Dunlop Chairman and CEO Willy Walker stated, “Alliant is one of the largest and most respected tax credit syndicators and affordable housing developers in the country. The addition of their people, assets, and capital formation capabilities immediately makes Walker & Dunlop a market leader in affordable housing — lending, sales, and tax credit syndication. With Fannie Mae, Freddie Mac and HUD all focused on affordable housing and more and more Americans seeking affordable rental housing, the combination of Alliant and Walker & Dunlop is a home run.  Shawn Horwitz has built an incredible team and company, and we look forward to welcoming them to W&D.”

Mr. Walker continued, “Alliant will have an immediate impact on Walker & Dunlop’s revenues, adjusted EBITDA, and cash flow. This acquisition dramatically accelerates the achievement of three Drive to ’25 goals: revenue growth to $2 billion, assets under management to over $10 billion, and $60 billion of targeted affordable housing lending. To accomplish so much in one acquisition is a true game-changer for W&D.”

Alliant  Founder and CEO Shawn Horwitz commented, “Combining with Walker & Dunlop’s scaled lending and sales platform will accelerate Alliant’s growth over the coming years. Walker & Dunlop’s people, brand, and innovative technology will benefit our clients, partners, and investors, and allow us to provide more affordable housing, something that is desperately needed in America.”