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A Record Deal in Record Time Brings More Business

February 19, 2016

Last year was a record-breaking year for Freddie Mac Senior Housing, and our Sellers were integral in that success. A particular standout was our partnership with Walker & Dunlop and the two deals we championed together. Those deals alone funded over $1.1 billion for facilities focused on memory care, independent living and assisted living.

Working closely with Walker & Dunlop, the first deal of $670 million secured a 52-property portfolio owned by New Senior Investment Group’s REIT. The loans were structured as seven-year adjustable rate mortgages under our Seller/Servicer Program, refinancing 35 properties and acquiring 17 new facilities across 19 states. It was the largest deal in Walker & Dunlop’s 77-year history. And, it was accomplished in 41 days from engagement ─ an extremely short timeframe for a deal of this magnitude.

Willy Walker, Chairman and CEO of Walker & Dunlop, commented, “The Walker & Dunlop team, along with New Senior Investment Group, Inc. and Freddie Mac, did an exceptional job on this large financing. . . .The Company 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 (Freddie Mac) to this space.”

“We are extremely pleased to have partnered with Walker & Dunlop and Freddie Mac on this significant financing for New Senior. The team at Walker & Dunlop worked collaboratively with us on our expedited timeline to provide a customized financing solution tailored to meet our needs. We look forward to working with them again in the future,” said Susan Givens, Chief Executive Officer of New Senior Investment Group, Inc.

And that’s exactly what New Senior did.

Encore Performance

Evidence that the New Senior Investment Group was pleased with our work, they returned for an additional large transaction through Walker & Dunlop and us. This deal originated another 28 loans totaling $465 million to purchase independent living properties. The loans were structured as 10-year fixed-rate CME loans with five years interest only, contributing to the borrower’s total of 3,298 units in 28 properties across 21 states.

Together, Freddie Mac Senior Housing’s two deals with Walker & Dunlop brought in over $1.135 billion in volume. Looking forward, Steven Schmidt, Freddie Mac Senior Housing national director said, “We are excited to continue our relationship with Walker & Dunlop and our other Sellers. This year we look forward to doing even more volume as part of our mission to satisfy the growing need for affordable housing for seniors.”

Senior Housing Deal Spotlight

Rancho Village, Palmdale, CA

Rancho Village, Palmdale, CA
120 independent living units

Sterling Court, Deltona, FL

Sterling Court, Deltona, FL
132 independent living units

Olympus Ranch, Murray, UT

Olympus Ranch, Murray, UT
117 independent living units

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