BETHESDA, Md., Feb. 13, 2020 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it structured $13,096,000 in financing for Crown Point Health Suites, a skilled nursing facility in Lubbock, Texas, and $33,600,000 in financing for Regency Retirement Village of Huntsville, a continuing care retirement community (CCRC) in Huntsville, Alabama.
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 permanent financing will replace the existing debt previously provided by Walker & Dunlop's bridge lending program.
"The Walker Dunlop team did it again! They continue to provide excellent customer service and work hard to understand the needs of my company so they can craft the most efficient solution," commented Rick Stern, Partner at Regency Senior Living.
Rick Ruble, CEO of Crown Point Health Suites, further commented, "Walker & Dunlop was incredibly communicative, proactive, and efficient throughout the HUD loan process. Walker & Dunlop advocates for their clients, always problem-solving to find the quickest resolutions to get the job done."
Built in 2011, Crown Point Health Suites is a 96-unit, Class A+ facility located in West Texas. Crown Point Suites is family-owned and operated and provides a resort-like community to its clients, featuring private suites, numerous dining options, personal laundry service, 24-hour nursing coverage, and special daily activities. The facility currently holds a five-star rating from the Centers for Medicare and Medicaid Services and has consistently maintained a top rating since its delivery.
Regency Retirement Village of Huntsville is a 312-unit CCRC built in 1980, with the addition of a skilled nursing facility in 2016. The property offers residents varying levels of senior care, providing skilled nursing and rehabilitation care, independent and assisted living, and memory care services. In 2019, the subject received an American Health Association's Commitment to Quality Award.
Walker & Dunlop ranked as the 3rd largest HUD lender in 2019 based on MAP initial endorsements, closing over $94 million of seniors housing and healthcare transactions. Learn more about Walker & Dunlop's ability to lend on seniors housing and healthcare properties:
- Walker & Dunlop Lends $11 Million for Supportive Living Facility Acquisition
- Walker & Dunlop Provides $52 Million in Financing for Colorado Senior Housing Portfolio
- Walker & Dunlop's Charlotte-Based Healthcare Team Completes $43 Million in Financing for Several Specialized Properties
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 800+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.
SOURCE Walker & Dunlop, Inc.