Walker & Dunlop Represents WindRiver in Seniors Housing Deal
Duncanville, Texas-based WindRiver Companies sold an active adult community in its hometown with the help of the seniors housing team at Walker & Dunlop. Jordyn Berger, Joshua Jandris, Mark Myers, Brett Gardner and Nick Hall worked on the deal and found the buyer, Dallas-based multifamily real estate investor Edison Equity Management Corp. (Edison). WindRiver originally developed the property in 2004 and has managed it ever since. They seem to have been ahead of the game in the growing active adult market. The community features 150 units, with rents ranging from $1,200 for one-bedroom units to nearly $2,100 per month for two-bedroom options. Occupancy was close to 100% throughout... Read More »
Lument Arranges Freddie Mac Refinance
Lument’s seniors housing and healthcare team closed a Freddie Mac refinance of a seniors housing community in Papillon, Nebraska. Set on the 44-acre Hillcrest Country Estates senior care campus, which provides the full continuum of care, the community in question features 102 independent living and 60 assisted living/memory care units. It is owned by Hillcrest Health Systems, a provider of senior care, home health care and telemedicine at its seven locations across Nebraska. Lument’s Quintin Harris, Doug Harper and Casey Moore arranged a non-recourse $41.5 million loan from Freddie Mac, with a 10-year term and 30-year amortization. The transaction replaced existing... Read More »
Walker & Dunlop Announces Georgia Portfolio Sale
The Walker & Dunlop Investment Sales team including Joshua Jandris, Mark Myers, Brett Gardner and Jordyn Berger has closed the sale of an independent living portfolio in the Atlanta, Georgia metro area. Not only that, but Russ Dey of Walker & Dunlop secured acquisition financing through Freddie Mac on three of the properties. More details on the transaction will be revealed next week, but what we know is that the portfolio comprises four newly built, “A” quality communities, with a combined 559 units. Dubbed “The Mansions Portfolio,” the communities were previously owned by a consortium of local and out-of-state developers. Focus Healthcare Partners was the buyer. Stay tuned next... Read More »
Fairstead Acquires Naples Senior Community
Fully-integrated real estate firm Fairstead secured several sources of financing to fund its purchase of a 250-unit affordable senior apartment community in Naples, Florida. Chicago-based developer Full Circle Communities sold the 45-year-old community for $59.5 million, or $238,000 per unit. Currently, there are a variety of supportive services including health and wellness programs, on-site meals, van transportation to doctor’s appointments, pharmacy visits, education programs and other activities. Fairstead is also planning a $25 million renovation of the property, which will include improvements made to common areas and every residential unit, with a... Read More »Schedule a demo
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