Walker & Dunlop Seniors Housing Sales Reaches Milestone

Rhea-AI Summary

Walker & Dunlop reported record sales of $1.3 billion in seniors housing and long-term care facilities from January to July 2022. This achievement marks the highest sales volume for this period in company history. The firm's success is attributed to collaboration across teams and adapting to recent market pricing changes. Notably, the $502 million sale of a portfolio of 25 age-restricted communities occurred on June 15, showcasing the team's expertise in the sector. Average monthly rents in these communities stand at $1,300, with residents averaging over five years of stay.

Positive

• Record sales of $1.3 billion in seniors housing for the first seven months of 2022.
• Successful $502 million sale of a 25-community portfolio, indicating strong market demand.
• Ability to collaborate with multifamily and debt platforms boosting sales activity.

Negative

• Market pricing experienced a 10%-12% reduction prior to Fed rate increases, indicating potential future challenges.

BETHESDA, Md., Sept. 28, 2022 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it sold $1.3 billion of seniors housing and long-term care facilities from January through July of 2022. This milestone for the Walker & Dunlop investment sales (WDIS) team marks the highest recorded sales for such a period in its history and signifies the momentum in seniors housing nationwide. The team's ability to collaborate with other platforms within the company, including the multifamily team and the debt platform, attributed to the increase in activity and the team's success.

"Walker & Dunlop thrives in this environment due to our multi-tiered sales and debt platform and structured finance team's expertise in every product type," said Mark Myers, Managing Director of Seniors Housing. "The recent changes in market pricing, resulting in many transactions experiencing a 10%–12% reduction in pricing prior to the fed rate increases, make working with a multi-faceted team like Walker & Dunlop critical, in terms of holding on price and procuring debt."

The portfolio of 25 age-restricted communities located on the East Coast and in the Midwest closed June 15^th with Welltower.

• The Walker & Dunlop seniors housing investment sales team was led by Mark Myers, Josh Jandris, and Brett Gardner, along with the multifamily team led by Joe Garibaldi and equity team led by Chris Harris.
• The Walker & Dunlop team represented the seller, Calamar, in the $502 million sale of the portfolio earlier this summer.
• The communities carry average monthly rents of $1,300 per unit, and an average resident length of stay of more than five years.

Calamar, along with countless other transactions, are leading the way for seniors housing, providing a certain momentum that guarantees upward mobility in the market.

Walker & Dunlop's twenty-person seniors housing team is the industry expert on selling and financing seniors housing or long-term care properties. Whether facilitating dispositions, raising equity or sourcing debt, the Walker & Dunlop team ensures each transaction is handled with precision and maximum results. For more information on the 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/walker--dunlop-seniors-housing-sales-reaches-milestone-301636133.html

SOURCE Walker & Dunlop, Inc.

FAQ

What was Walker & Dunlop's sales accomplishment from January to July 2022?

Walker & Dunlop achieved record sales of $1.3 billion in seniors housing and long-term care facilities during this period.

What was the significant sale completed by Walker & Dunlop on June 15, 2022?

On June 15, 2022, Walker & Dunlop finalized a $502 million sale of a portfolio comprising 25 age-restricted communities.

How do the average monthly rents compare in Walker & Dunlop's seniors housing portfolio?

The average monthly rents in the portfolio are approximately $1,300 per unit.

Who led the Walker & Dunlop seniors housing investment sales team?

The team was led by Mark Myers, Josh Jandris, and Brett Gardner.

What challenges did Walker & Dunlop face in the market pricing?

The market pricing for many transactions saw a reduction of 10%–12% ahead of the Fed rate increases.