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Chicago & Midwest  + Midwest  + Healthcare  | 

Walker & Dunlop Structures HUD Financing for Wisconsin Assisted Living

Walker & Dunlop structured $9,089,800 in financing for the acquisition of Tender Hearts Assisted Living, a 50-unit facility in Green Bay, WI that was built in 2009 and renovated in 2019. The firm’s Kevin Giusti led the origination team on behalf of Senior Opportunity Funds Holding Company (SOF), a Southeast-focused operator new to the Wisconsin market.

Leveraging their knowledge of the HUD lending platform, the Walker & Dunlop team utilized HUD’s LEAN 232/233(f) refinance program, which provides long-term and reduced-rate financing for specialty healthcare facilities. In addition to achieving financing cost savings, Walker & Dunlop was able to obtain a $9,089,800 HUD loan for the $10,100,000 acquisition, representing a 90% loan-to-cost ratio.

Giusti said, “HUD acquisition deals are rare, but HUD’s LEAN program stepped up to provide attractive acquisition financing while many lenders were out of the market or drastically changed their lending parameters due to COVID-19.”

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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).

  • ◦Acquisition
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