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Chicago & Midwest  + Greater Chicagoland  + Healthcare  |  May 14, 2021
Paul Bubny
By: Paul Bubny

Walker & Dunlop Structures $56M Financing on Three SNFs

Walker & Dunlop structured $55,680,000 in financing for three skilled nursing facilities in the Chicago area. They included Chalet Living & Rehab Center in Chicago ($24,640,000), The Grove of Evanston ($18,880,000) and The Grove of La Grange Park ($12,160,000).

Working on behalf of a longtime client, senior managing director Joshua Rosen led the origination team at Walker & Dunlop in applying HUD’s Section 232/223(a)(7) Refinance option to each property’s existing HUD loans. The permanent loans also feature terms of approximately 27 years and attractive fixed rates.  

“This three-pack transaction is an excellent example of Walker & Dunlop’s ability to provide new opportunities for skilled nursing facilities amid a global pandemic,” said Rosen. “Our team’s substantial expertise in seniors housing and healthcare facilities finance has helped our clients provide care and housing for our country’s most vulnerable populations during a time when they need it most.”

Pictured: The Grove of La Grange Park.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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