UTAH and CALIFORNIA — Walker & Dunlop has structured $77.1 million in financing for two large skilled nursing portfolios totaling ten properties and 848 units.
The Cascades Portfolio, located throughout Utah, totals seven properties and 693 units. The Rollins-Nelson Portfolio includes three properties and 155 units located in Englewood, Long Beach and Perris, California.
Walker & Dunlop’s Kevin Giusti, Brian Neal and Andrew Westling arranged the transactions. The team utilized three different capital solutions for the Cascades Portfolio, including financing through the Department of Housing and Urban Development (HUD), a regional bank, and a finance company.
For the Rollins-Nelson portfolio, the team worked with the borrower to refinance the existing HUD loan, capitalizing on the historically low-interest-rate environment and extending the term of the mortgage. Each of the transactions resulted in debt service savings, as well as cash back for repairs to the facilities.