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Walker & Dunlop finances $52M for senior housing portfolio
Listen to this articleBethesda-based commercial real estate finance company Walker & Dunlop Inc. announced Wednesday it structured $52.035 million in financing for three Class A senior housing properties totaling 196 units in Colorado Springs and Centennial, Colorado.
Each of the properties, MorningStar at Jordan, MorningStar at Mountain Shadows, and MorningStar at Bear Creek, is owned in a partnership between MorningStar Senior Living and an alternative investment fund manager based in the Middle East.
The Walker & Dunlop team was led by managing director Stuart Wernick, alongside Jeff Ringwald and Bill Jackson, who specialize in senior housing properties. Each of the three assets was refinanced with a ten-year, fixed-rate loan that included interest-only for a portion of the term.
Walker & Dunlop closed nearly $800 million of seniors housing and health care transactions in 2018 alone. The firm is also ranked the second largest Fannie Mae DUS multifamily lender, third largest HUD MAP lender, and fourth largest Freddie Mac OptigoSM multifamily lender for 2018.
