Seniors Housing Market is Back and Stronger Than Ever

Rhea-AI Summary

Walker & Dunlop announced $57.2 million financing for three skilled nursing facilities in Illinois, highlighting a rebound in the seniors housing market post-pandemic. The financing includes:

• Avantara Park Ridge: $15.6 million for a 154-bed facility.
• Moraine Court Supportive Living: $28.7 million for a 185-bed facility.
• Aperion Care Elgin: $13.3 million for a 101-bed facility.

Utilizing HUD financing products, Walker & Dunlop emphasizes its expertise in the seniors housing sector.

Positive

• Secured $57.2 million financing, indicating strong demand in the seniors housing market.
• Facilitated financing through HUD programs, showing expertise in navigating complex financing options.
• Completed over 850 transactions worth over $9 billion since 2009, reflecting a strong track record in the industry.

Negative

• None.

BETHESDA, Md., Aug. 18, 2022 /PRNewswire/ -- 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 Americans 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 more than 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.

 

View original content:https://www.prnewswire.com/news-releases/seniors-housing-market-is-back-and-stronger-than-ever-301608855.html

SOURCE Walker & Dunlop, Inc.

FAQ

What is the total financing amount announced by Walker & Dunlop for the skilled nursing facilities?

Walker & Dunlop announced a total financing amount of $57.2 million.

When was the financing for skilled nursing facilities announced by Walker & Dunlop?

The financing was announced on August 18, 2022.

Which specific facilities were financed by Walker & Dunlop?

The facilities financed include Avantara Park Ridge, Moraine Court Supportive Living, and Aperion Care Elgin.

What financing programs did Walker & Dunlop utilize for these transactions?

Walker & Dunlop utilized HUD's LEAN 232/223(f) and 232/223(a)(7) financing programs.

What is the significance of the financing announcement for Walker & Dunlop's market position?

The announcement signifies a rebound in the seniors housing market post-pandemic and reinforces Walker & Dunlop's position as a leader in healthcare financing.