Walker & Dunlop has successfully secured $25.9 million in permanent financing for Rivertown Ridge, a premier senior housing community located in the bustling Grand Rapids metropolitan area of Michigan.
The deal was expertly structured by Walker & Dunlop Managing Directors Mary Stuart Hurst and Russell Dey, who worked closely with Inner Circle Holdings to secure a 10-year fixed-rate loan from Fannie Mae. The loan also includes three years of interest-only payments and is being managed by Redstone Group Management Inc.
Rivertown Ridge is an exceptional 152-unit senior living community that offers top-of-the-line amenities and services. Built in 2019 as part of a larger master-planned development spanning over 120 acres, this class A property features dedicated units for independent living, assisted living, and memory care.
Mary Stuart Hurst commented on the successful collaboration between various experts within Walker & Dunlop’s financing platform: “We are proud to have brought together our team of agency specialists along with our expertise in senior housing to make this unique transaction possible.” She added that their involvement reflects their commitment to supporting Redstone Group’s mission of providing high-quality care and accommodation options for seniors not just in Grand Rapids but throughout the surrounding region as well.
This achievement further solidifies Walker & Dunlop’s position as one of the leading players within the commercial real estate industry.
