Walker & Dunlop both structured and provided $28.3 million in acquisition financing for the new owner of a 194-bed senior care campus in the Cape Cod town of Brewster, Massachusetts. Coming with a two-year term and interest-only payments throughout the life of the loan, the financing covers about 90% of the acquisition costs, leaving the borrower with funds to execute on some renovations at the facility.
That borrower was The Pointe Group, a private, family-owned and locally managed senior living and rehabilitation provider in Massachusetts. Previously owned and operated by Joshua Zuckerman, who wanted to retire from the business, the 135-bed SNF was built in 1995, while the 59-unit assisted living community was added in 2007. Both were well occupied. Joshua Rosen closed the deal for the Walker & Dunlop team.
