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					 Walker & Dunlop Closes $13.9 Million Fannie Mae Refinance
   Loan for Ventana Ranch in Albuquerque, New Mexico
                             Bethesda, MD – March 15, 2012 – Walker & Dunlop, LLC announced today
                             that it recently provided $13,920,000 in financing for Ventana Ranch, a
                             garden-style residential apartment community located in Albuquerque, NM.

                            The refinance loan was structured with a 7-year term and a 30-year
                            amortization and underwritten to a 75 percent loan-to-value with a 1.45x
                            debt-service coverage ratio. Walker & Dunlop structured the transaction with
                            a 4-year yield maintenance term, providing the borrower with added
                            prepayment flexibility. The loan was processed through Fannie Mae’s
Affordable Preservation Program which allows for financing of Low Income Housing Tax Credit
Properties in their regulatory restricted use term.

The sponsor, Melora Banker, GSL Properties, Inc., commented, “It truly was a pleasure working with
Walker & Dunlop on the refinance of the Ventana Ranch Apartments. The refinance process was
executed very efficiently. We look forward to working on other transactions with Walker & Dunlop in
the future.”

Ventana Ranch is a 288-unit apartment development built in 2005, situated on over 13 acres. The
multifamily property offers one-, two- and three-bedroom floor plans featuring Kenmore® appliance
packages, washer/dryer units, and patios or balconies. Property amenities include a clubhouse with a
billiards room and theater room, outdoor swimming pool with spa, fitness facility, two playgrounds, and
covered parking available for a monthly fee. Ventana Ranch was 94 percent leased at closing.

Wally Harding, Norris Beggs & Simpson, originated the loan. Walker & Dunlop Senior Vice President,
Multifamily Finance, Jay Thomas, (469/248-1250, jthomas@walkerdunlop.com) led the Walker &
Dunlop team.

About Walker & Dunlop
Through its subsidiary Walker & Dunlop, LLC, Walker & Dunlop, Inc. (NYSE: WD) is one of the leading commercial
real estate finance companies in the United States, with a primary focus on multifamily lending. As a Fannie Mae
DUS™, Freddie Mac Program Plus® and MAP- and LEAN-approved FHA lender, the Multifamily and FHA Finance
groups of Walker & Dunlop are focused on lending to property owners, investors, and developers of multifamily
properties across the country. The Capital Markets group specializes in financing commercial real estate for owners
and investors across the United States. Capital for this financing comes from large institutions such as life
insurance companies, commercial banks, CMBS lenders, pension funds, and specialty finance companies. The
Principal Investment group provides institutional advisory, asset management, and investment management
services with respect to debt, structured debt and equity.

Contact:         Susan Weber
                 Vice President, Marketing
                 Phone: 301/215-5515
                 sweber@walkerdunlop.com

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