Walker & Dunlop Closes $20M Refinancing for Illinois Assisted Living Facility

by Jeff Shaw

NEW LENOX, Ill. — Walker & Dunlop, Inc. (NYSE: WD) has closed a $20 million loan for the refinance of Cottages of New Lenox, a 80-unit, 100-bed, assisted living and memory care facility located in New Lenox, Ill.

The refinance loan was structured with three-years interest only using Walker & Dunlop’s interim loan program. The borrower is an affiliate of a joint venture between Chicago-based Focus Healthcare Partners, LLC and Artemis Real Estate Partners, LLC.

John Pantone, senior vice president, led the Walker & Dunlop team that structured the refinance loan.

Located 42 miles southwest of Chicago, Cottages of New Lenox offers five stand-alone 20-resident cottages, including one building that provides dedicated assisted living.

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