Walker & Dunlop Originates $68 Million in HUD Loans for Seven Skilled Nursing Facilities in Illinois and Wisconsin

BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop, Inc. announced today that it has originated $68,312,000 in HUD 232/223(f) loans to refinance seven skilled nursing facilities located in Illinois and Wisconsin.

Walker & Dunlop’s FHA Finance arranged the refinancings, led by Joshua Rosen, Brad Annis, and Johnny Rice. Utilizing the HUD-insured 232/223(f) financing program, with its long-term, fixed-rate, and non-recourse structure, allowed the clients to replace existing short-term, variable-rate debt and secure greater stability and predictability for their portfolio.

“With the senior population continuing to grow and new supply remaining constrained, demand for high-quality skilled nursing facilities is stronger than ever,” said Rosen, senior managing director of FHA Finance at Walker & Dunlop. “We’re proud to help our client secure long-term, fixed-rate HUD financing on seven properties totaling 380 units, reflecting both the strength of the market and our team’s expertise in complex healthcare real estate transactions.”

The strength of the Seniors Housing and Skilled Nursing segment is supported by accelerating demand from an aging population and a constrained construction pipeline that has kept new supply muted since 2021. With the 80+ population set to grow rapidly through 2030, well-operated communities are positioned for continued rent growth, especially in supply-limited markets. Walker & Dunlop anticipates that within the next year, this segment will experience:

• Rent growth in supply-constrained markets as demand outpaces new deliveries
• Stable pricing with modest cap rate compression for core assets
• Improved financing from GSE and HUD programs supporting acquisitions and refinancings
• Limited new development as costs and underwriting keep starts subdued through 2026

To stay ahead of the key trends shaping the seniors housing market, sign up for early access to download our 2025 Seniors Housing Report here.

Walker & Dunlop was recently ranked the #2 HUD lender based on both MAP (Multifamily Accelerated Processing) and LEAN volume for 2024 and the #4 HUD construction lender for 2024. Between 2022-2024, the firm originated $2.4 billion of HUD transactions. To learn more about our capabilities and financing options, visit our website.

About Walker & Dunlop

Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.