Walker & Dunlop Provides $1.3B Refinancing for Holiday Retirement

by Jeff Shaw

BETHESDA, MD. — Walker & Dunlop Inc. (NYSE: WD) has closed a $1.3 billion refinancing for Holiday Retirement, by far the largest financing transaction in the lender’s history.

The seven-year, adjustable-rate loans through Freddie Mac are secured by a 78-property portfolio of Holiday’s independent living facilities in 30 states across the country. The lender structured and closed the financing in 47 days.

Holiday is the second largest operator of seniors housing in the United States, managing over 300 communities, and the 10th largest owner, according to the American Seniors Housing Association based on data as of July 1, 2015. The company focuses mainly on independent living properties.

The refinancing is nearly double the size of Walker & Dunlop’s second largest transaction, a $670 million loan in 2015.

“Closing a transaction of this size in such a short time period required exceptional teamwork by Walker & Dunlop, Holiday Retirement and Freddie Mac,” says Willy Walker, chairman and CEO of Walker & Dunlop.

For all of 2015, Walker & Dunlop completed $2.8 billion of seniors housing financing. “And we’re focused on continuing to expand our presence within this growing market,” says Walker.

Russell Dey and Laura Beaton, both vice presidents, led the Walker & Dunlop team.

Headquartered in Bethesda, Walker & Dunlop is a commercial real estate lender focused on multifamily and commercial properties. The company employs over 500 professionals in 25 offices nationwide.

— Jeff Shaw

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