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Walker & Dunlop Delivers $52M in Financing for Colorado Sr. Housing Portfolio
Walker & Dunlop, Inc. structured $52,035,000 in financing for three Class A senior housing properties totaling 196 units in Colorado Springs and Centennial, CO. The properties, MorningStar at Jordan (pictured), MorningStar at Mountain Shadows, and MorningStar at Bear Creek, are owned in a partnership between Morningstar Senior Living and an alternative investment fund manager based in the Middle East.
The deal, which closed in 40 days, required Walker & Dunlop to apply a deep understanding of Fannie Mae financing. That helped ensure the lending documents were consistent and compliant with Shari’ah law, which has implications on the payment and receipt of interest.
Walker & Dunlop’s team was led by Stuart Wernick, along with Jeff Ringwald and Bill Jackson, who specialize in senior housing properties. Each of the three assets was refinanced with a 10-year, fixed-rate loan that included interest-only for a portion of the term.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing