Financial firm Walker & Dunlop is financing $15 million worth of new homes for build-for-rent neighborhoods in Tyler. The three neighborhoods receiving funding are Hamilton Park, Tully Tail and Memory Village. 

Stuart Wernick, senior vice president and managing director of Walker & Dunlop, said, "As one of the most popular and fastest-growing asset classes, this portfolio garnered significant interest with the capital markets. The sponsor's team also added value, with demonstrated success in the industry and a significant amount of combined construction, development and operational experience."

Build-for-rent refers to single-family homes such as condos and townhouses that are not available for purchase. Due in part to the increasing housing demand, each of the 123 homes is occupied.

Tyler is a steadily growing economic hub in the east Texas region. The economy in Tyler is heavily concentrated in education and educational services. Most of the city’s residents work at the local hospital, East Texas Medical Center, and Christus Trinity Mother Frances. They’ve averaged over twice the national U.S. employment growth rate in recent years. 

Walker & Dunlop is a commercial real estate firm based in Weston, Fla. Their firm was founded in 1937 and continues to perpetuate rentals by funding landlords and speculating house value.