Walker & Dunlop Inc. (NYSE: WD) has arranged a joint venture partnership and construction financing for a $132 million multifamily development in Richmond, Virginia, according to a company statement.

The firm arranged the joint venture between AIP, Pointsfive, and Bridge Investment Group for the redevelopment of a former Greyhound Bus Station in Richmond's Scott's Addition District. Walker & Dunlop also secured $85.6 million in construction financing from Madison Realty Capital for the project.

The 550,000-square-foot development will include 386 residential units and more than 14,000 square feet of retail space. The property is located at 2910 North Arthur Ashe Boulevard within a federally designated Qualified Opportunity Zone.

Walker & Dunlop's Capital Markets Institutional Advisory and Equity & Structured Finance divisions served as exclusive advisor to co-developers AIP and Pointsfive. The development team includes Mo Beler, Jonathan Paine, Heather McClure, Cory Elbaum, Michael Williams, and Jackson Irwin, who arranged the equity investment, while Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Sean Reimer, and Michael Brown secured the construction financing.

The site will be cleared for redevelopment and will feature three outdoor courtyards and over 55,000 square feet of indoor and outdoor amenities. Construction is scheduled to begin in the second quarter of 2026.

In 2025, Walker & Dunlop's Capital Markets team sourced over $22 billion from non-Agency capital providers, including nearly $16 billion for multifamily properties, according to the company statement.