Walker & Dunlop Structures HUD Financing for Colorado Skilled Nursing Portfolio
Walker & Dunlop has secured $16,408,000 in financing for three skilled nursing facilities in Colorado, assisting Madison Creek Partners. The facilities include Pioneer Health Care Center, Paonia Care & Rehabilitation, and Glenwood Springs Health Care, with flexible financing options provided through HUD's LEAN program aimed at long-term care facilities. The financing will refinance prior debts and fund improvements. Walker & Dunlop ranked as the 3rd largest HUD lender in 2019, closing over $94 million in senior housing transactions.
- Secured $16,408,000 in financing for three Colorado nursing facilities.
- Utilized HUD's LEAN program for favorable long-term financing.
- Walker & Dunlop ranked 3rd in HUD lending in 2019, enhancing credibility.
- None.
BETHESDA, Md., Aug. 10, 2020 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it structured
Walker & Dunlop Managing Director, Kevin Giusti, led the origination team, which has extensive experience with senior housing and skilled nursing facilities across the country. Leveraging their knowledge of the U.S. Department of Housing and Urban Development (HUD) lending platform, the Walker & Dunlop team utilized HUD's LEAN 232/233(f) refinance program, which provides long-term and reduced-rate financing for specialty healthcare facilities. The HUD proceeds were used to refinance existing third-party debt on the properties, as well as recoup partner debt to fund capital improvements on each of the facilities.
Paulina Salazar, Chief Financial Officer of Madison Creek Partners, commented, "The Walker & Dunlop team was incredibly helpful and patient, guiding us and advocating for us every step of the way. We look forward to a continuing fruitful relationship with Walker & Dunlop as we continue to grow our company."
Renovated in 1964, Pioneer Health Care Center is a 29-unit/99-bed facility and is the only Veterans Affairs (VA)-contracted facility within 80 miles of the area. Paonia Health Care Center is a 28-unit/56-bed skilled nursing and memory care facility built in 1984. Paonia Health Care is the only facility in the Town of Paonia and is the only skilled nursing facility within 22 miles. Lastly, Glenwood Springs Health Care is a 29-unit/54-bed facility and the sole of its kind in the area. It is located less than a mile from its local medical center, Valley View Hospital.
Walker & Dunlop ranked as the 3rd largest HUD lender in 2019 based on MAP initial endorsements, closing over
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 900+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.
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SOURCE Walker & Dunlop, Inc.
FAQ
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