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CHICAGO — Walker & Dunlop Inc. has structured $55.7 million in financing for three skilled nursing facilities in the Chicago area: Chalet Living & Rehab Center, The Grove of Evanston and The Grove of La Grange Park.
Joshua Rosen led the origination team at Walker & Dunlop in securing debt coverage savings for the property owner and long-time client, which was not disclosed. The team utilized U.S. Department of Housing and Urban Development’s (HUD) Section 232/223(a)(7) program to refinance the facilities’ existing HUD loans. Each loan features a 27-year term and fixed interest rate.
The loans totaled $24.6 million for Chalet Living & Rehab Center, $18.9 million for The Grove of Evanston and $12.2 million for The Grove of La Grange Park.