With the first quarter wrapped up, Walker & Dunlop announced six closings totaling 13 assets located across the country. The largest deal was handled by Gideon Orion on behalf of a publicly traded REIT client. The five-facility skilled nursing portfolio is located in the Mid-Atlantic region and consisted of nearly 770 beds. A national owner/operator bought the properties for over $200,000 per bed at a cap rate of approximately 7% on in-place EBITDAR.
Another portfolio sold, this time including three Class-A memory care communities in the Phoenix, Arizona MSA. Totaling 196 units and 258 beds, the properties were built from 2012 to 2016. A regional owner/operator bought them for an undisclosed price. Sam Thompson and Tony Cassie led the transaction.
Another noteworthy transaction in the quarter involved the all-cash acquisition of a Class-A, trophy asset located in an in-fill Philadelphia, PA, suburb. The property consisted of 196 units of independent living, assisted living and memory care, and was sold by a regional developer. Joshua Jandris led the deal. Finally, Russell Dey and Mr. Jandris facilitated the refinance of an 80-unit assisted living/memory care community in Vermont, lowering their clients’ debt service costs.
