Walker & Dunlop, Inc. announced today that it structured $57.2 million in financing for three skilled nursing facilities located in Illinois. Walker & Dunlop Senior Managing Director, Joshua Rosen, led the origination team, which has considerable experience with seniors housing and healthcare facilities across the country. Leveraging their extensive knowledge of the U.S. Department of Housing and Urban Development's (HUD) financing products, the team utilized the LEAN 232/223(f) for the refinance of two properties and the 232/223(a)(7) program for the other. Both programs provide long-term financing for skilled healthcare facilities. The deals reaffirm the post pandemic upward momentum in the seniors housing market.
The collection of properties includes:
- Avantara Park Ridge – Walker & Dunlop structured a $15.6 million loan through HUD's LEAN refinance program for Avantara Park Ridge, a 154-bed skilled nursing facility in Park Ridge, Illinois.
- Moraine Court Supportive Living – Walker & Dunlop secured a $28.7 million loan through HUD's LEAN refinance program for Moraine Court Supportive Living, a 185-bed Supportive Living Facility located in Bridgeview, Illinois. W&D assisted in structuring and obtaining HUD approval on a surplus cash note prior to application and refinanced the current HUD insured debt and surplus cash note.
- Aperion Care Elgin – Walker & Dunlop secured a $13.3 million loan through HUD's LEAN refinance program for Aperion Care Elgin, a 101-bed skilled nursing facility in Elgin, Illinois.
"Walker & Dunlop's ability to seamlessly navigate the HUD process helps our clients to successfully close on transactions," said Mr. Rosen. "Our team continues to enable our clients to carry out new business ideas and improve existing skilled nursing properties, keeping vulnerable populations safe."
Walker & Dunlop is a leader in seniors housing property sales and financing; the firm has completed more than 850 unique seniors housing and healthcare transactions worth over $9 billion since 2009. For more information about Walker & Dunlop's seniors housing team, visit our website.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest providers of capital to the commercial real estate industry in the United States, enabling real estate owners and operators to bring their visions of communities — where people live, work, shop and play — to life. Our people, brand, and technology make W&D one of the most insightful and customer-focused firms in our industry. With over 1,400 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune’s Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.