Walker & Dunlop Arranges $25M for 2 Senior Housing Communities
Senior Managing Director Joshua Rosen led the origination team which provided HUD financing for the Manchester, Ky., and Aurora, Ill., properties.
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Walker & Dunlop has provided $25.4 million in financing for two senior housing communities through HUD’s LEAN 232/233(f) refinance program. Working on behalf of the owners, Senior Managing Director Joshua Rosen led the origination team which structured two separate loans for the assets.
The Vistas Fox Valley, a 136-bed supportive living center at 1599 N. Farnsworth Ave. in Aurora, Ill., received a $14.6 million permanent loan, retiring a bridge mortgage, also from Walker & Dunlop. The facility has an on-site spa, salon, fitness center and library and is roughly 3 miles east of AMITA Health Medical Center. The property is adjacent to The Grove Fox Valley, a 156-bed rehabilitation center which received nearly $15 million in permanent financing in May from the same lender.
The second loan provided $10.7 million for Landmark of Laurel Creek, a 106-bed skilled nursing facility in Manchester, Ky. Located at 1033 N. Highway 11, the center offers wound, respite and hospice care services as well as a rehab-to-home program. Property amenities include a library, beauty salon and dining room.
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