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California  + San Diego  + Healthcare  | 

First Fannie Mae Green Loan, $82M for San Diego Seniors Housing

Walker & Dunlop, Inc. structured an $82 million loan for Paradise Village in National City, CA. The transaction for the Class A, independent living, assisted living, and memory care community represents Fannie Mae’s first Green Rewards loan backed by a seniors housing property.

The 10-year loan provided a two-year period of interest-only payments and a 30-year amortization schedule for the sponsor, Generations Senior Living. The financing replaced a previous construction loan, and provided cash-out to enable the financing of an adjacent, newly-developed memory care facility when stabilized.

Built in 2009 in San Diego’s South Bay, the property consists of seven four-story buildings and 394 units. The property was developed through a partnership between an affiliate entity of Generations Senior Living and a faith-based, non-profit hospital that has nearly 20 hospitals and 280 clinics under its management.

Walker & Dunlop’s Jeff Ringwald and Bill Jackson led the financing team.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
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