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SNF in Aurora Gets $13M in Bridge Financing
Walker & Dunlop provided $12,800,000 in bridge financing for The Grove Fox Valley, a 156-bed skilled nursing facility in Aurora, IL. The debt was structured and provided by Walker & Dunlop’s bridge lending program.
Led by managing director Joshua Rosen, the team structured the acquisition financing to cover 100% of the acquisition cost in addition to working capital and capital expenditures for the owner, Cascade Capital Group. The loan includes a nine-month term, flexible prepayment options, and full-term interest-only payments.
“We provided short-term financing to enable the borrower to execute this acquisition while adhering to tight timeframes,” said Rosen.
Located 40 miles west of Downtown Chicago, The Grove Fox Valley is convenient to many of the area’s leading hospitals and physicians’ offices. The property is well-positioned with ample time to convert to permanent financing through the U.S. Department of Housing and Urban Development in early 2020.
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