Walker & Dunlop’s Joshua Rosen arranged bridge financing for Cascade Capital Group’s acquisition of a 136-bed supportive living facility in Aurora, Illinois. Totaling over $11.0 million, the debt was structured and provided by W&D’s bridge lending program, which utilizes the company’s own balance sheet. It came with a nine-month term and full term of interest-only payments and allow Cascade to quickly execute on the acquisition. The loan also features flexible prepayment options, and Cascade expects to refinance through HUD later this year.
If this sounds familiar, it’s because in August 2019, Walker & Dunlop provided a $12.8 million loan from its balance sheet to cover 100% of the costs for Cascade Capital Group to acquire the adjacent 156-bed skilled nursing facility in Aurora. That loan also features a nine-month term and full term of interest-only payments.