Walker & Dunlop, Inc. provided a $14,125,000 bridge loan for Autumn House senior living communities in York, Pennsylvania.
The firm structured the loan using its interim loan program thereby providing time for the borrower to further stabilize operations and enhance value prior to conversion to a permanent U.S. Housing and Urban Development (HUD) loan (Healthcare Section 232/223f Refinance).
Ken Buchanan, director of FHA underwriting, led the loan team. “Walker & Dunlop’s proprietary bridge loan program offers short-term non-recourse loans to borrowers seeking to acquire or reposition multifamily and healthcare properties that do not currently qualify for permanent financing,” said Buchanan.
“The borrower brought in an experienced management team and identified key areas for improvement.”