Lakeway Regional Medical Center
Lakeway, Texas
Largest HUD 242 Loan for a For-Profit Borrower

Walker & Dunlop provided a $167 million loan for Lakeway Regional Medical Center located in Lakeway, Texas. This loan marks HUD’s first non-replacement hospital construction loan in the past 3.5 years and is the largest proprietary hospital HUD has insured. Financing was arranged by Jeffrey A. Jones.

Fairways at Jennings Mill
Athens, Georgia
$19.9MM HUD Refinancing Loan

Walker & Dunlop provided a $19,972,900 refinance loan for Fairways at Jennings Mill. The loan was structured with a 40-year term and a 40-year amortization. The borrower utilized HUD’s Section 223(a)(7)loan program to reduce the interest rate and increase the loan proceeds to cover all transaction costs associated with closing the loan. The increased NOI of the property coupled with the decreased debt service greatly increased the borrower’s cash flow. Walker & Dunlop closed the loan within 4 months of engagement. Financing was arranged by Stephen Farnsworth.

Sovereign Portfolio
Florida
Largest HUD Healthcare Portfolio Since 2005

Walker & Dunlop provided $162.2 million in HUD insured financing for a 16 property, 2,088 bed portfolio of skilled nursing facilities in Florida. Each loan was structured with an all-in rate of 4.95%, a 35-year term and a 35-year amortization utilizing HUD LEAN 232/223(f) loans. The loans were underwritten to an average of 81 percent loan-to-cost. This transaction was the largest HUD portfolio loan closed since 2005 and demonstrates the surging popularity of HUD financing, particularly for healthcare refinancing. Financing was arranged by Stephen J. Ervin.

The Presidio
Fremont, California
$45.6MM Fannie Mae Loan

Walker & Dunlop provided a $45,600,000 loan for The Presidio complex. The loan was structured with a 10-year term and a 30-year amortization. The loan was underwritten to a 65% loan-to-value and a 1.4x debt-service coverage ratio. The loan proceeds were used to retire an existing securitized loan that was originated in 2000. Financing was arranged by Jeff Burns and Verne L. Murray III.

Elan at River Oaks
San Jose, California
$138.9MM Freddie Mac Loan

Walker & Dunlop originated a $138,935,000 loan for Elan at River Oaks located in San Jose, California. The loan was closed less than two weeks after rate lock and was used to retire $120,000,000 of existing debt. Financing was arranged by Jeff Burns and Verne L. Murray III.

Sun Valley Estates Manufactured Housing Park
Tarpon Springs, Florida
$13.4MM Refinance Loan

Walker & Dunlop provided a $13,442,000 refinance loan for Sun Valley Estates Manufactured Housing Park.The loan was structured with a 10-year term and a 30-year amortization. The loan was underwritten to a 70 percent loan-to-value with a 1.30x debt-service coverage ratio. Walker & Dunlop was able to secure a highly attractive interest rate and close the deal in 42 days from receiving the signed application. Financing was arranged by Andrew Tapley.

Royal Oaks Townhomes
Hollywood, Florida
$8.75MM Refinance Loan

Walker & Dunlop provided a $8,750,000 refinance loan for Royal Oaks Townhomes located in Hollywood, Florida. The loan was structured with a 7-year term, 5 years yield maintenance and a 30-year amortization. The loan was underwritten to a 70 percent loan-to-value with a 1.35x debt service coverage ratio. Walker & Dunlop provided the borrower with long term debt, prepayment flexibility, and executed the loan in less than three months. Financing was arranged by Drew Anderman.

488 7th Avenue
New York, New York
$28.8MM Refinance Loan

Walker & Dunlop provided a $28,800,000 refinance loan for 488 7th Avenue – The York Apartments located in New York, New York. The loan was structured with a 10-year term with 2 years interest only and a 30-year amortization. The loan was underwritten to a 56.6 percent loan-to-value with a 1.25x debt-service coverage ratio. Walker & Dunlop worked diligently to provide the very best in loan proceeds, pricing and service. As a result, they were able to include up to 30% of commercial income in the cash flow underwriting. Financing was arranged by Drew Anderman.

Courtyard Marriott
Washington, D.C.
$28MM Hotel Construction Loan

Walker & Dunlop arranged a $28,000,000 ground-up construction loan for the Courtyard Marriott located near George Washington University in Foggy Bottom. This marks one of only a few hotel construction loans secured in the Washington, D.C. market in the past two years and is also Walker & Dunlop’s second major hospitality construction loan this year, following a $17,200,000 non-recourse construction loan for the 126-room Holiday Inn located in Charleston, South Carolina. Financing was arranged by Andrew Coleman.