Walker & Dunlop's Chicago-Based FHA Finance Team Structures $127 Million in Financing for Skilled Nursing Facilities
Walker & Dunlop announced financing of $126,646,733 for seven skilled nursing facilities across the Northeast and Midwest. The properties include notable centers in Massachusetts, Illinois, and Michigan. Led by Joshua Rosen, the financing utilized HUD's LEAN programs for favorable long-term rates, locking fixed rates for terms of 30-34 years. The team successfully navigated the challenges of the COVID-19 pandemic, ensuring flexibility for clients in this downturn. Walker & Dunlop is recognized as the 5th largest HUD multifamily lender, originating nearly $600 million in healthcare transactions in 2020.
- Secured $126,646,733 financing for seven skilled nursing facilities, enhancing market position.
- Utilized HUD's LEAN 232/233(f) program, securing favorable long-term financing terms.
- Successfully navigated COVID-19 challenges, ensuring client flexibility and transaction execution.
- 5th largest HUD multifamily lender, with nearly $600 million originated in seniors housing in 2020.
- None.
BETHESDA, Md., March 2, 2021 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it structured
- 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
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 1,000+ professionals in 41 offices across the nation have an unyielding commitment to client satisfaction.
Contacts:
Investors: | Media: |
Kelsey Duffey | Susan Weber |
Investor Relations | Chief Marketing Officer |
Phone 301.202.3207 | Phone 301.215.5515 |
Phone 301.215.5500 | |
7501 Wisconsin Avenue, Suite 1200E | |
Bethesda, Maryland 20814 |
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1 HUD.gov, based on origination volume for the agency's 2020 fiscal year |
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SOURCE Walker & Dunlop, Inc.
FAQ
What financing amount did Walker & Dunlop secure for skilled nursing facilities in March 2021?
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