BETHESDA, Md., June 28, 2018 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it provided five loans totaling$40,120,200 for several specialized healthcare properties located in Georgia, Ohio, and Tennessee. Comprising 513
Walker & Dunlop Senior Vice President, Kevin Giusti, led the origination team, which has extensive experience in working with senior housing and skilled nursing facilities throughout the country. While all properties utilized a HUD refinance execution, each transaction was distinct and required a tailored finance solution.
One of the five transactions included a unique challenge: in addition to refinancing the property, the developer's business plan included the construction of 16 additional units to maximize the property's future cash flow and add value to the community. Walker & Dunlop was able to streamline the existing intricate loan structure, which included both short-term bank and Agency debt, into a single refinance and construction loan. The team's deep understanding of HUD's programs resulted in minimal transaction costs, enabled the repayment of notes payables, and allowed for capital expenditure reimbursements to the borrower.
Mr. Giusti commented, "As baby boomers continue to age, the need for senior housing and skilled nursing has risen throughout the United States." Adding that, "We were pleased to employ our expertise in this space to meet the needs of our clients, Regency Senior Living and Saber Healthcare Group."
"The team at Walker & Dunlop were extremely professional and efficient in their execution of the processing and closing of our loans," said Rick Stern, Partner at Regency Senior Living. "I was impressed by the way they were able to look ahead, anticipate potential challenges, and make adjustments before issues actually came up. The team saved us time and money and we look forward to working with them again on our next transaction."
Walker & Dunlop ranked as the 4th largest HUD multifamily lender in 2017. In the past five years, the firm's dedicated team of experts has closed over $3.9 billion of seniors housing and healthcare transactions. Learn more about Walker & Dunlop's ability to lend on seniors housing and healthcare properties:
About Walker & Dunlop Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate services and finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has over 650 professionals in 29 offices across the nation with an unyielding commitment to client satisfaction.
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SOURCE Walker & Dunlop, Inc.
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