Walker & Dunlop Arranges $300M Construction Loan for The Mather in Tysons, Virginia

TYSONS, Va. — Walker & Dunlop, Inc. has arranged $300 million in construction financing for The Mather, a high-rise continuing care retirement community in the Washington, D.C. suburb of Tysons.

A 50/50 partnership between Mather and Westminster Capital is developing the building. The project was announced in 2017, the land acquisition was completed in 2019 and pre-sales began this past summer.

The transit-oriented project will comprise two buildings with 300 independent living apartments, 16 assisted living apartments, 20 memory support suites and 42 private nursing suites that will be built in two phases, with the first phase projected to open in early 2024.

Walker & Dunlop’s Jonathan Schwartz, Aaron Appel, Ari Hirt, Sean Bastian and Taylor Geiger served as strategic advisors for the developers. The complex capital stack included the syndicated transaction led by The Huntington National Bank.

“Despite some uncertainty surrounding the senior housing market during the COVID-19 pandemic, The Mather has experienced exceptional pre-sales velocity and is well ahead of projections,” says Schwartz. “The property is very well located and caters to the ever-growing Washington, D.C. metro area.”

Situated at the corner of Westpark and Westbranch drives, The Mather is 15 miles from the Capitol and is located within half a mile of the Tysons Corner Metro Station and the Tysons Galleria Shopping Mall.