BETHESDA, Md., March 2, 2021 /PRNewswire/ — Walker & Dunlop, Inc. announced today that it structured $126,646,733 in financing for a seven skilled nursing facilities, located throughout the Northeast and Midwest. The collection of properties includes:
- Baypointe Rehabilitation and Skilled Care Center – Brockton, Massachusetts
- Eastpointe Rehabilitation and Skilled Care Center – Chelsea, Massachusetts
- Elevate Care Chicago North – Chicago, Illinois
- Elevate Care Niles – Niles, Illinois
- Elevate Care Northbrook – Northbrook, Illinois
- Southpointe Rehabilitation and Skilled Care Center – Fall River, Massachusetts
- Wellbridge of Romeo – Romeo, Michigan
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, Walker & Dunlop’s team utilized the LEAN 232/233(f) program for the refinance of four properties and used the 232 loan modification program for the three remaining properties. Both of these programs provide long-term and reduced-rate financing for specialty healthcare facilities.
The Walker & Dunlop team worked to close each loan effectively and to ensure maximum flexibility for its clients despite uncertainties caused by the COVID-19 pandemic. The team locked attractive fixed rates, a declining prepayment schedule, and each loan included terms ranging from 30 to 34 years.
Said Mr. Rosen, “Walker & Dunlop has a proven platform and the capabilities to help each of our borrowers seamlessly navigate the HUD closing process while capitalizing on this historically low interest rate environment.” He continued, “Our team continues to successfully execute on transactions in the face of the challenges presented by the pandemic. This level of acuity enables our clients to execute on new business plans and improve their skilled nursing properties, which are vital to keeping vulnerable populations safe.”
Walker & Dunlop is the 5th largest HUD multifamily lender1, and in 2020 alone, the firm originated nearly $600 million of seniors housing, skilled nursing, and healthcare transactions through various capital sources. For information about Walker & Dunlop’s view on the housing market, including expert perspectives on markets, leadership, and the road ahead, visit our 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…