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Debt & Equity

$1.3B senior housing loan the biggest in Walker & Dunlop history

Walker & Dunlop, Inc. recently closed a $1.27 billion refinancing for Holiday Retirement, the second largest operator of senior housing in the United States, managing over 300 properties throughout the country.

Holiday Retirement operates 300 senior properties
Holiday Retirement operates 300 senior living properties.

The transaction is the largest that Walker & Dunlop has closed in its history and is almost double the size of the company’s second largest financing, a $670 million deal that closed earlier in 2015.

That deal was secured by a 52-property portfolio owned by New Senior Investment Group. The portfolio included memory care, independent living and assisted living facilities, located in 19 states.

The-then record breaker was part of a $2.8 billion year at the company as financing for senior housing facilities grew exponentially.

The latest Holiday Retirement loan is a seven-year, Freddie Mac, adjustable rate loan are secured by a 78-property portfolio of independent living facilities located in 30 states across the country.

Vice presidents Russell Dey and Laura Beaton led the Walker & Dunlop team that structured and closed the transaction in 47 days.

Willy Walker
Willy Walker

Willy Walker, chairman and CEO of Walker & Dunlop, commented, “Closing a transaction of this size in such a short time period required exceptional teamwork by Walker & Dunlop, Holiday Retirement, and FreddieMac.

“This portfolio is by far the largest financing Walker & Dunlop has ever completed, yet our team provided the same certainty of execution and processing speed as we do on much smaller transactions.

“This is the second ‘mega’ financing Walker & Dunlop completed in 2015, and it is a testament to the brand and expertise that we have built at W&D that we have been given these types of financing opportunities. In 2015, we completed $2.8 billion of senior housing financing, and we are focused on continuing to expand our presence within this growing market.”

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