Walker & Dunlop Originates $65 Million in HUD Loans for Seven Skilled Nursing Communities
12 Março 2024 - 7:00AM
Business Wire
Walker & Dunlop, Inc. announced today that it originated
$65,731,000 in 232/223(f) and 241(a) HUD loans for seven skilled
nursing facilities and memory care centers across Illinois and
Wisconsin between October 2023 and February 2024.
Walker & Dunlop’s Midwest FHA Finance team, led by Joshua
Rosen, Brad Annis, and Johnny Rice, arranged the construction loan
and refinancings on behalf of five clients, utilizing the U.S.
Department of Housing and Urban Development (HUD) as the
lender.
“We're pleased to announce the closure of loans on seven
properties totaling 376 units, reflecting our brokers' dedication
and proficiency in complex real estate transactions,” said Joshua
Rosen, senior managing director of FHA Finance at Walker &
Dunlop. “These closings underscore our unwavering commitment to
excellence and drive in healthcare real estate, delivering value
and expertise to clients and facilitating significant
investments.”
See below for transaction details:
Elevate Care Waukegan
- Location: Waukegan, Illinois
- Amount: $21,249,700
- Walker & Dunlop arranged a 232/223(f) HUD loan to refinance
existing commercial debt, partnership debt, and fund recent capital
improvements for the 105-unit community. Elevate Care Waukegan is
also located in a dedicated Opportunity Zone.
Asbury of Kankakee
- Location: Kankakee, Illinois
- Amount: $12,633,100
- Walker & Dunlop arranged a 241(a)- NC addition HUD loan,
which finances repairs for properties with an existing HUD loan.
Walker & Dunlop arranged the original HUD loan in 2020, with
the new construction loan covering a 56-unit addition. Asbury of
Kankakee is also located in a dedicated Opportunity Zone.
Allure of Galesburg
- Location: Galesburg, Illinois
- Amount: $10,880,000
- Walker & Dunlop arranged a 232/223(f) HUD loan that
replaced its existing commercial bank bridge financing for the
47-unit, two-asset portfolio acquisition, marking the client’s
first-time utilization of the HUD-insured program.
Allure of Moline
- Location: Moline, Illinois
- Amount: $8,400,000
- Walker & Dunlop arranged a 232/223(f) HUD loan that
replaced its existing commercial bank bridge financing for the
60-unit, two-asset portfolio acquisition, marking the client’s
first-time utilization of the HUD-insured program.
Crossroads Care Center of Sun Prairie
- Location: Sun Prairie, Wisconsin
- Amount: $6,544,000
- Walker & Dunlop arranged a 232/223(f) HUD loan that
replaced commercial bank bridge financing for the 29-unit,
two-asset portfolio acquisition. Crossroads Care Center of Sun
Prairie is also located in a dedicated Opportunity Zone.
Aperion Care St. Elmo
- Location: St. Elmo, Illinois
- Amount: $4,331,700
- Walker & Dunlop arranged a 232/223(f) HUD loan that
replaced commercial debt and funded capital improvements for the
29-unit community.
Crossroads Care Center of Fond Du Lac
- Location: Fond Du Lac, Wisconsin
- Amount: $1,692,500
- Walker & Dunlop arranged a 232/223(f) HUD loan that
replaced commercial bank bridge financing for the 50-unit,
two-asset portfolio acquisition.
Walker & Dunlop was recently ranked the #5 HUD lender based
on both MAP (Multifamily Accelerated Processing) and LEAN volume
for 2023 and the #2 HUD construction lender for 2023. In 2023
alone, the firm originated nearly $679 million of HUD transactions.
To learn more about our capabilities and financing options, visit
our website.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest commercial
real estate finance and advisory services firms in the United
States. Our ideas and capital create communities where people live,
work, shop, and play. The diversity of our people, breadth of our
brand and technological capabilities make us one of the most
insightful and client-focused firms in the commercial real estate
industry.
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version on businesswire.com: https://www.businesswire.com/news/home/20240312552926/en/
Investors: Kelsey Duffey Investor Relations Phone
301.202.3207 investorrelations@walkeranddunlop.com
Media: Nina H. von Waldegg VP, Public Relations Phone
301.564.3291 info@walkeranddunlop.com
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