Walker & Dunlop, A Maryland-based commercial real estate financing company, has announced that it recently arranged refinancing for Reena Senior Living.
The 80-unit, 80-bed assisted living and memory care facility is in Fort Atkinson.
The property consists of a three-story assisted living building, which was built in 2016, and a one-story memory care addition, which was built in 2019, a release from the financing company noted.
According to the release, Kevin Giusti and Matthew Lund, along with team members provided the refinancing services on behalf of the client, Tukka Properties, and the lender, the U.S. Department of Housing and Urban Development (HUD), for approximately $14.6 million.
The transaction closed Oct. 18, 2022, the release stated.
“The ownership team did a great job managing through an operationally difficult period with effectiveness while still being very active in the HUD refinance process. It was a pleasure working with such a professional team to achieve the desired financing goal in a difficult credit market,” Giusti, a senior managing director of FHA (Federal Housing Administration) finance at Walker & Dunlop, was quoted as saying in the release.
Lund is a senior director with the financing company responsible, according to biographical information shared on the company’s website, for income-producing properties, including those marketed as offices, apartments and hotels, and industrial and retail space, in the company’s Midwest region.
According to its website, Walker & Dunlop was founded in 1937 and became one of the first companies using Federal Housing Administration insurance to make single-family home loans. Since its founding, a timeline indicates that the company has grown through acquisitions and by expanding the financial products it offers within the “capital markets space.”
In 2021, the company noted its expansion into student housing, housing research, and affordable housing.
The company’s website is here: https://www.walkerdunlop.com/what-makes-us-different/about-us/.
Information about HUD is here: https://www.hud.gov.
Information about the Reena Senior Living facility in Fort Atkinson is here: https://reenaseniorliving.com/?utm_source=extnet&utm_medium=Yext.
Reena Assisted Living in Fort Atkinson. Contributed photo.
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