Walker & Dunlop Structures $25 Million in Financing for Skilled Nursing and Supportive Living Facilities

Rhea-AI Summary

Walker & Dunlop has secured $25,389,900 in financing for two healthcare facilities: Landmark of Laurel Creek in Kentucky ($10,744,000) and The Vistas Fox Valley in Illinois ($14,645,900). This financing utilizes HUD's LEAN 232/233(f) refinance program for long-term, reduced-rate funding for specialty healthcare properties. The Vistas Fox Valley is noted for its advanced post-hospital care, while Laurel Creek holds a four-star rating from CMS. Walker & Dunlop has established itself as a leading HUD lender, closing over $94 million in related transactions in 2019.

Positive

• Secured $25,389,900 in financing for skilled nursing and supportive living facilities.
• Utilized HUD’s LEAN 232/233(f) program, indicating favorable lending conditions.
• The Vistas Fox Valley provides advanced post-hospital care, enhancing service offering.
• Laurel Creek holds a four-star CMS rating, indicating quality care and operational standards.
• Ranked as the 3rd largest HUD lender in 2019, demonstrating strong market position.

Negative

• None.

BETHESDA, Md., July 10, 2020 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it structured $10,744,000 in financing for Landmark of Laurel Creek, a 106-bed skilled nursing facility located in Manchester, Kentucky, and $14,645,900 in financing for The Vistas Fox Valley, a 136-bed supportive living facility in Aurora, Illinois.

Walker & Dunlop Senior Managing Director, Joshua Rosen, led the origination team, which has extensive experience with seniors housing and healthcare facilities across the country. Leveraging their knowledge of the U.S. Department of Housing and Urban Development (HUD), the Walker & Dunlop team utilized the Agency's LEAN 232/233(f) refinance program, which provides long-term and reduced-rate financing for specialty healthcare facilities.

The permanent financing for The Vistas Fox Valley will replace the existing debt previously provided by Walker & Dunlop's bridge lending program, which utilizes the company's own balance sheet to offer short-term, nonrecourse loans for properties that are being acquired or repositioned as part of a new business strategy.

Located in Aurora, Illinois, a far-western suburb of Chicago, The Vistas Fox Valley is one of the most advanced providers of post-hospital care in the Fox River Valley region. The Vistas Fox Valley is designed to appeal to the unique needs and expectations of seniors 65+, offering a safe, engaging environment with full medical support and rehabilitation services. The property is conveniently located near many of the area's top hospitals and healthcare facilities and offers hotel-like amenities such as spacious private suites, housekeeping services, expansive family lounges, an on-site spa and salon, dining services, transportation options, and 24-hour medical assistance.

Landmark of Laurel Creek is located approximately 100 miles south of Lexington, Kentucky, and holds a four-star rating from Centers for Medicare and Medicaid Services (CMS). Laurel Creek operates as a rehabilitation and skilled nursing center, including rehab-to-home programs, wound care, respite care, and hospice care.

Walker & Dunlop ranked as the 3^rd largest HUD lender in 2019 based on MAP initial endorsements, closing over $94 million of seniors housing and healthcare transactions. For information about Walker & Dunlop's view on the apartment market, including expert perspectives on markets, leadership, and the road ahead, visit our new -1%26h%3D710069405%26u%3Dhttps%253A%252F%252Fengage.walkerdunlop.com%252Finsight%252Fwalker-webcasts%253Ftoken%253D74640d3b91%26a%3DDriven%2Bby%2BInsight%25C2%25A0information%2Bcenter&a=Driven+by+Insight%C2%A0information+center" rel="nofollow">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 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 850+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.

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SOURCE Walker & Dunlop, Inc.

FAQ

What financing did Walker & Dunlop announce on July 10, 2020?

Walker & Dunlop announced $25,389,900 in financing for Landmark of Laurel Creek and The Vistas Fox Valley.

What are the locations of the facilities financed by Walker & Dunlop?

The financed facilities are located in Manchester, Kentucky and Aurora, Illinois.

What is the significance of the financing program used by Walker & Dunlop?

Walker & Dunlop utilized HUD’s LEAN 232/233(f) refinancing program, which offers long-term, reduced-rate financing for healthcare facilities.

How much did Walker & Dunlop close in seniors housing financing in 2019?

Walker & Dunlop closed over $94 million in seniors housing and healthcare transactions in 2019.

What is the CMS rating for Landmark of Laurel Creek?

Landmark of Laurel Creek holds a four-star rating from the Centers for Medicare and Medicaid Services.