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Walker & Dunlop Structures $127M for SNFs in Midwest, Northeast
Walker & Dunlop structured $126,646,733 in financing for seven skilled nursing facilities located in the Midwest and Northeast. Senior managing director Jonathan Rosen, based in Walker & Dunlop’s downtown Chicago office, led the origination team.
The properties included the following:
• Baypointe Rehabilitation and Skilled Care Center – Brockton, MA
• Eastpointe Rehabilitation and Skilled Care Center – Chelsea, MA
• Elevate Care Chicago North – Rogers Park on Chicago’s North Side
• Elevate Care Niles – Niles, IL
• Elevate Care Northbrook – Northbrook, IL
• Southpointe Rehabilitation and Skilled Care Center – Fall River, MA
• Wellbridge of Romeo – Romeo, MI
Leveraging their knowledge of the financing products, Walker & Dunlop’s team utilized the LEAN 232/233(f) program for the refinance of four of these properties and used the 232 loan modification program for the three remaining properties.
The team locked attractive fixed rates and a declining prepayment schedule, and each loan included terms ranging from 30 to 34 years.
