Walker & Dunlop arranged a $15.25 million refinance for Waterhouse Ridge Memory Care, a 68-bed memory care facility outside Portland, Oregon.

Walker & Dunlop’s Kevin Giusti and Daniel Barone led the origination team that placed the loan through one of its lending partners. Loan proceeds were used to refinance existing debt and cash out the sponsor. The loan will be seasoned for two years before being refinanced under the U.S. Department of Housing and Urban Development’s (HUD) 232 Program.

Waterhouse Ridge Memory Care has been owned, and operated by Onelife Senior Living since 2016. The facility is currently at 88 percent occupancy and is in one of the fastest-growing zip codes in the Portland metro. Located at 1115 NW 158th Avenue, the facility is next to a 92-acre recreation complex, less than four miles from major employment headquarters, including Nike and Intel.