Walker Dunlop originated its record largest deal in 77 years of business.
The Bethesda, Md.-based real estate finance company originated $670 million in senior housing loans Monday, the company said in a release. The loans are backed by a 52-property portfolio owned by New Senior Investment Group and structured as seven-year adjustable-rate mortgages under the Freddie Mac/Servicer Program, the company said.
“[Walker Dunlop] continues to gain an increased presence in the senior housing market due to the country’s changing demographics and Walker Dunlop’s significant partnerships with the major suppliers of capital (Fannie, Freddie and HUD) to this space,” chairman and chief executive Willy Walker said in the company’s release.
The properties are primarily senior citizen care facilities spread across 19 states but most heavily concentrated in Florida, North Carolina, New Hampshire and Utah.