Walker & Dunlop, Inc. announced today that it structured $10,744,000 in financing for Landmark of Laurel Creek, a 106-bed skilled nursing facility located in Manchester, Kentucky, and $14,645,900 in financing for The Vistas Fox Valley, a 136-bed supportive living facility in Aurora, Illinois.
Walker & Dunlop Senior Managing Director, Joshua Rosen, led the origination team, which has extensive experience with seniors housing and healthcare facilities across the country. Leveraging their knowledge of the U.S. Department of Housing and Urban Development (HUD), the Walker & Dunlop team utilized the Agency's LEAN 232/233(f) refinance program, which provides long-term and reduced-rate financing for specialty healthcare facilities.
The permanent financing for The Vistas Fox Valley will replace the existing debt previously provided by Walker & Dunlop's bridge lending program, which utilizes the company's own balance sheet to offer short-term, nonrecourse loans for properties that are being acquired or repositioned as part of a new business strategy.
Located in Aurora, Illinois, a far-western suburb of Chicago, The Vistas Fox Valley is one of the most advanced providers of post-hospital care in the Fox River Valley region. The Vistas Fox Valley is designed to appeal to the unique needs and expectations of seniors 65+, offering a safe, engaging environment with full medical support and rehabilitation services. The property is conveniently located near many of the area’s top hospitals and healthcare facilities and offers hotel-like amenities such as spacious private suites, housekeeping services, expansive family lounges, an on-site spa and salon, dining services, transportation options, and 24-hour medical assistance.
Landmark of Laurel Creek is located approximately 100 miles south of Lexington, Kentucky, and holds a four-star rating from Centers for Medicare and Medicaid Services (CMS). Laurel Creek operates as a rehabilitation and skilled nursing center, including rehab-to-home programs, wound care, respite care, and hospice care.
Walker & Dunlop ranked as the 3rd largest HUD lender in 2019 based on MAP initial endorsements, closing over $94 million of seniors housing and healthcare transactions. For information about Walker & Dunlop's view on the apartment market, including expert perspectives on markets, leadership, and the road ahead, visit our new Driven by Insight information center.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE Magazine's Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop's 850+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.