WYOMING, Mich. — Walker & Dunlop has arranged $25.9 million in permanent financing for Rivertown Ridge, a seniors housing community located in Wyoming, roughly 5 miles outside Grand Rapids.
The 10-year, fixed-rate Fannie Mae loan features three years of interest-only payments. Mary Stuart Hurst and Russell Dey of Walker & Dunlop secured the financing through Inner Circle Holdings on behalf of the borrower, Redstone Group Management Inc.
Rivertown Ridge, which was built in 2019 as part of a master-planned community, features 152 units, with independent living, assisted living and memory care residences. Amenities at the property include a library, bar and entertainment space, theater, fitness center, coffee bar, lounge, underground parking and activity areas.