BETHESDA, Md., April 1, 2015 /PRNewswire/ -- Walker & Dunlop, Inc. (NYSE: WD) (the "Company") announced today it has originated $670,000,000 in senior housing loans, secured by a 52-property portfolio owned by New Senior Investment Group, Inc. (the "Sponsor"). The loans were structured as seven year adjustable rate mortgages under the Freddie Mac Seller/Servicer Program. This is the largest deal Walker & Dunlop has closed in its 77 year history.
Russell Dey, assistant vice president, and Laura Beaton, vice president, led the Walker & Dunlop team that closed the portfolio within 41 days from engagement, an extremely short timeline for a portfolio of this magnitude. The deal funded the refinancing of 35 assets plus the acquisition of 17 new properties. The portfolio included memory care, independent living and assisted living facilities, located in 19 states with the highest concentrations in Florida, North Carolina, New Hampshire and Utah.
Willy Walker, Chairman and CEO of Walker & Dunlop, commented, "The Walker & Dunlop team, along with New Senior Investment Group, Inc. and Freddie Mac, did an exceptional job on this large financing. This deal demonstrates the expertise within our team for senior housing properties. The Company continues to gain an increased presence in the senior housing market due to the country's changing demographics and Walker & Dunlop's significant partnerships with the major suppliers of capital (Fannie, Freddie and HUD) to this space."
"We are extremely pleased to have partnered with Walker & Dunlop and Freddie Mac on this significant financing for New Senior. The team at Walker & Dunlop worked collaboratively with us on our expedited timeline to provide a customized financing solution tailored to meet our needs. We look forward to working with them again in the future," said Susan Givens, Chief Executive Officer of New Senior Investment Group, Inc.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the premier commercial real estate finance companies in the nation. The firm's scaled lending platform provides customers with a comprehensive suite of financing solutions for multifamily and commercial properties located across the United States. Walker & Dunlop has more than 450 professionals with an unyielding commitment to client satisfaction located in 22 offices nationwide. For more information, please visit www.walkerdunlop.com.
SOURCE Walker & Dunlop, Inc.
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