Walker & Dunlop successfully arranged a $15.25 million refinance for Waterhouse Ridge Memory Care, a 68-bed memory care facility outside Portland, Oregon. Kevin Giusti and Daniel Barone of Walker & Dunlop led the origination team that placed the loan through one of its lending partners. Loan proceeds were used to refinance existing debt and cash out the sponsor with plans to season it for two years before refinancing under HUD’s 232 Program.
Waterhouse Ridge Memory Care is owned by Onelife Senior Living since 2016 and currently stands at 88% occupancy in one of Portland’s fastest growing zip codes (1115 NW 158th Avenue). The facility is located next to a 92-acre recreation complex, less than four miles from major employment headquarters such as Nike and Intel.
This successful $15M financing marks yet another milestone achieved by Walker & Dunlop in providing innovative solutions for their clients’ needs across all markets nationwide
