Walker & Dunlop Structures $127M for Skilled Nursing Facilities

BETHESDA, MD – Walker & Dunlop Inc. has structured $126,646,733 in financing for seven skilled nursing facilities throughout the Northeast and Midwest.

The firm’s Chicago-based FHA finance team, led by senior managing director, Joshua Rosen, structured the financing.

The seven properties comprise Baypointe Rehabilitation and Skilled Care Center in Brockton, MA, Eastpointe Rehabilitation and Skilled Care Center in Chelsea, MA, Elevate Care Chicago North in Chicago, IL, Elevate Care Niles in Niles, IL, Elevate Care Northbrook in Northbrook, IL, Southpointe Rehabilitation and Skilled Care Center in Fall River, MA, and Wellbridge of Romeo in Romeo, MI.

With extensive expertise regarding the US Department of HUD’s financing products, the firm’s origination team utilized the LEAN 232/233(f) program for the refinance of four properties. The team utilized the 232 loan modification program for the remaining three properties. Both programs offer long-term and reduced-rate financing for specialty healthcare facilities.

Working to close each loan and ensure maximum flexibility for clients, Walker & Dunlop’s origination team secured attractive fixed-rates, a declining prepayment schedule and loan terms ranging from 30-34 years.

“Walker & Dunlop has a proven platform and the capabilities to help each of our borrowers seamlessly navigate the HUD closing process while capitalizing on this historically low interest rate environment,” says Rosen. “Our team continues to successfully execute on transactions in the face of the challenges presented by the pandemic. This level of acuity enables our clients to execute on new business plans and improve their skilled nursing properties, which are vital to keeping vulnerable populations safe.”

In 2020, Walker & Dunlop originated nearly $600 million of senior housing, skilled nursing and healthcare transactions through various capital sources.