Walker & Dunlop, Inc. announced that it structured a little over $77 million in financing for two skilled nursing portfolios totaling ten properties and 848 units. The Cascades Portfolio, located throughout Utah, totals seven properties and 693 units. The Rollins-Nelson Portfolio includes three properties and 155 units located in Englewood, Long Beach, and Perris, California.
Walker & Dunlop’s Kevin Giusti, Brian Neal, and Andrew Westling arranged financing from HUD, a regional bank and a finance company to provide for the Cascades portfolio. For the Rollins-Nelson portfolio, the team refinanced the existing HUD loan, capitalizing on a low interest rate and extending the term of the mortgage. Protracted underwriting timelines resulting from COVID caused some headaches, but both transactions resulted in debt service savings and cash back for repairs to the facilities. The bulk of the proceeds will go towards ensuring the portfolios can continue operations through the pandemic.
In 2021, Walker & Dunlop originated nearly $737 million of seniors housing, skilled nursing, and healthcare transactions through various capital sources.
