Walker & Dunlop Provides Refi for Senior Housing Communities
The company accessed the two permanent notes through HUD’s Lean loan program. The properties are located in West Texas and Northern Alabama.
Crown Point Health Suites. Image via Google Street View
Walker & Dunlop has facilitated a $13.1 million loan for Crown Point Health Suites, a skilled nursing community in Lubbock, Texas, and a 35-year, $33.6 million mortgage for Regency Retirement Village of Huntsville, a continuing care community in Huntsville, Alabama.
The new permanent notes will retire existing bridge loans which Walker & Dunlop originated. The firm’s Managing Director Kevin Giusti led the team which accessed the financing using Section 223(f) of HUD’s Lean loan program, an important source of debt capital for senior housing.
Built in 2011 and located at 6640 Iola Ave. in West Texas, Crown Point Health Suites is a 96-unit, Class A skilled nursing facility. The community offers private suites, a therapy fitness center, 24-hour nursing services and special activities.
Situated at 2004 Max Luther Drive, Regency Retirement Village of Huntsville is a 312-unit community completed in 1980. In 2016, it also added a skilled nursing facility. The property provides residents with various levels of senior care, such as independent and assisted living, as well as rehabilitation and memory care services.
