Walker & Dunlop Structures $43 Million in Financing for Six Illinois Skilled Nursing Facilities

Rhea-AI Summary

Walker & Dunlop has secured $43,242,500 in financing for six skilled nursing facilities in Illinois, including Aperion Care and Rock River Health Care. This financing was structured by leveraging expertise in HUD programs, with amounts allocated to each facility as follows: Aperion Care Bridgeport: $3.88M, Burbank: $6.88M, Dekalb: $6.28M, Litchfield: $3.55M, Wilmington: $16.24M, and Rock River Health Care: $6.41M. This supports 640 beds across 277 units, aiding operations amid the pandemic.

Positive

• Secured $43.24 million financing for six skilled nursing facilities.
• Helps ensure continued operations for 640 beds across 277 units.
• Leverages HUD programs, showcasing financial expertise.

Negative

• None.

BETHESDA, Md., Dec. 9, 2021 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it arranged $43,242,500 in financing for six skilled nursing facilities located across the state of Illinois: Aperion Care Bridgeport, Aperion Care Burbank, Aperion Care Dekalb, Aperion Care Litchfield, Aperion Care Wilmington, and Rock River Health Care.

• Aperion Care Bridgeport (Bridgeport, IL): $3,884,100
• Aperion Care Burbank (Burbank, IL): $6,880,000
• Aperion Care Dekalb (Dekalb, IL): $6,278,300
• Aperion Care Litchfield (Litchfield, IL): $3,550,400
• Aperion Care Wilmington (Wilmington, IL): $16,240,000
• Rock River Health Care (Rockford, IL): $6,409,700

Walker & Dunlop's Joshua Rosen and Brad Annis leveraged their vast expertise and knowledge of the Department of Housing and Urban Development (HUD) programs to refinance the existing loans from the Federal Housing Administration (FHA) for each property. The team structured the financing for all five Aperion Care facilities under Section 232/223(a)7, and the debt for Rock River Health Care was arranged using Section 232/223(f). For Aperion Care Dekalb, the team effectively assisted the client in facilitating a transfer of physical assets (TPA), working through the complex processes associated with a change in the property's mortgagor and operator.

"Walker & Dunlop was happy to secure over $43 million in HUD-insured proceeds for our clients, helping these vital skilled nursing facilities – totaling to 640 beds across 277 units – continue operations throughout the pandemic," said Mr. Rosen. "Our team completely streamlined the process of the often time-intensive financing process, especially for the Aperion Care Dekalb financing assignment, which we successfully expedited using Section 232/223(a)7 in conjunction with a TPA."

Walker & Dunlop is the #1 provider of capital to the U.S. multifamily market and is ranked the 5th largest HUD lender¹. In 2020 alone, the firm originated nearly $600 million of seniors housing, skilled nursing, and healthcare transactions through various capital sources. To learn more about our capabilities and financing options, visit our website.

About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is the largest provider of capital to the multifamily industry in the United States and the fourth largest lender on all commercial real estate including industrial, office, retail, and hospitality. Walker & Dunlop enables real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology make us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With over 1,000 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.

¹ HUD.gov, based on origination volume for the agency's 2020 fiscal year

View original content to download multimedia:https://www.prnewswire.com/news-releases/walker--dunlop-structures-43-million-in-financing-for-six-illinois-skilled-nursing-facilities-301441029.html

SOURCE Walker & Dunlop, Inc.

FAQ

What financing amount did Walker & Dunlop arrange for the skilled nursing facilities in Illinois?

Walker & Dunlop arranged $43,242,500 in financing.

Which facilities are included in the $43 million financing by Walker & Dunlop?

The financing includes Aperion Care locations and Rock River Health Care in Illinois.

How many beds are supported by the financing secured by Walker & Dunlop?

The financing supports a total of 640 beds across 277 units.

What is the significance of the financing arranged by Walker & Dunlop?

It aids the vital operations of skilled nursing facilities during the pandemic.

When was the financing for the six nursing facilities announced?

The financing was announced on December 9, 2021.