TODAY’S DEALS: Walker & Dunlop Closes Over $61M for 12-Property Portfolio Acquisition, and Other Transactions

By Anuradha Kher, Online News EditorLittle Rock, Ark.–Walker & Dunlop provided $61,021,300 in HUD-insured financing for a portfolio of nursing homes in Arkansas. The 12-property, 1,255-bed portfolio was purchased by CSCV – Arkansas. Each loan was structured with a 35-year term and a 35-year amortization utilizing HUD LEAN 232/223(f) loans. The loans were underwritten to an 85 percent loan-to-cost. This deal marks the first portfolio closed through the LEAN process and demonstrates the growing acceptability of FHA financing in the healthcare industry. Steve Ervin, senior vice president and Group Head of FHA Finance, says, “Before the LEAN program, acquisitions of nursing homes were difficult to complete through HUD. The LEAN program allows flexibility and predictability to successfully complete purchases of portfolios through HUD.” Alliant Arranges $15.9M for Acquisition of 149-Unit Rental CommunityOlympia, Wash.–Alliant Capital LLC recently arranged the $15.9 million acquisition of Merrill Creek, a 149-unit community in Lakewood, Wash. The acquisition was closed on behalf of RS Diversified Co., a repeat client of the company, with a 10-year fixed rate loan, 9.5 years of yield maintenance, a 30-year amortization and a final loan amount of $11,117,400.  Merrill Creek is located less than seven miles from Fort Lewis Army Base and 3.5 miles from McChord Air Force Base and boasts a military occupancy of 75 percent. Fannie Mae guidelines require “pre-review” for any community with greater than 20 percent military residents. This pre-review process allows Fannie Mae to review and approve or decline the transaction prior to committing to the deal.