Walker & Dunlop Achieves Senior Housing Sales Milestone
The firm sold $1.3 billion of senior housing and long-term care facilities between January and July of this year.
BETHESDA, MD – From January through July of this year, Walker & Dunlop Inc. sold $1.3 billion of senior housing and long-term care facilities; representing the firm’s highest recorded sales for such a period.
The transactions included the $502 million portfolio sale of 25 age-restricted communities, for which Walker & Dunlop’s investment sales team represented the seller, Calamar. The sale, which closed June 15, consisted of communities in the Midwest and on the East Coast that offered an average monthly rent of $1,300 per unit and boasted an average resident length of stay of more than five years.
“Walker & Dunlop thrives in this environment due to our multi-tiered sales and debt platform and structured finance team’s expertise in every product type,” states Mark Myers, Walker & Dunlop managing director of seniors housing. “The recent changes in market pricing, resulting in many transactions experiencing a 10%–12% reduction in pricing prior to the fed rate increases, make working with a multi-faceted team like Walker & Dunlop critical, in terms of holding on price and procuring debt.”
Led by Mark Myers, Josh Jandris and Brett Gardner, the Walker & Dunlop senior housing investment sales team collaborates with the firm’s multifamily team and debt platform in effort to increase activity. The 20-person senior housing team offers expertise on selling and financing seniors housing and long-term care properties, while facilitating dispositions, raising equity and sourcing debt.