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Chicago & Midwest  + Midwest  + Healthcare  | 

W&D Arranges Financing on SNF, Supportive Living in IL, MI

Walker & Dunlop said Tuesday it had structured a total of $37 million in permanent financing for skilled nursing and supportive living properties in Illinois and Michigan. They include $14,895,100 in financing for The Grove Fox Valley, a 156-bed skilled nursing facility in Aurora, IL; $14,960,000 for WellBridge of Novi, a 100-bed skilled nursing facility in Novi, Michigan; and $7,377,600 for Asbury of Kankakee, a 98-bed supportive living facility in Kankakee, IL.

Chicago-based senior managing director Joshua Rosen led the origination team, which utilized HUD’s LEAN 232/233(f) refinance program. The program provides long-term and reduced-rate financing for specialty healthcare facilities.

The financing for The Grove Fox Valley will replace the existing debt previously provided by Walker & Dunlop’s bridge lending program. The financing of WellBridge of Novi and Asbury of Kankakee allowed each of the property owners to refinance both their current bank and partnership debt.

Pictured: The Grove Fox Valley.

For comments, questions or concerns, please contact Paul Bubny

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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).

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