Troutman Sanders’ Multifamily Housing Finance Practice Represents Walker & Dunlop in $1.3B Refinancing for Holiday Retirement
RICHMOND, Va. - Troutman Sanders LLP’s Multifamily Housing Finance practice served as lender’s counsel for Walker & Dunlop on its recent $1.3 billion refinancing for Holiday Retirement. The financing, which was the largest undertaken by Walker & Dunlop, was structured and closed in 47 days. The seven-year, adjustable-rate loans obtained through Freddie Mac are secured by a 78-property portfolio of Holiday’s independent living facilities in 30 states across the U.S. Holiday is one of the country’s largest operators of seniors housing.
In a news release Walker & Dunlop commented that, “Closing a transaction of this size in such a short time period required exceptional teamwork… .” Richmond partners Mark Shiembob and Jeremy McLean led the Troutman Sanders team.
With 26 full-time, dedicated lawyers in the multifamily practice, we have handled some of the industry’s most significant transactions. Examples include six of the largest multifamily-apartment portfolio financings between 2012 and 2015, each of which had an aggregate loan amount in excess of $1 billion. During that same time period, the practice has handled more than 5,800 loan and servicing transactions, in every US state, with a volume in excess of $87 billion. In 2015 alone, the practice handled 2260 loan and servicing transactions totaling $37 billion.
Troutman Sanders’ Multifamily Housing Finance practice is the premier nationwide practice representing lenders in the multifamily and senior housing finance industry. The practice focuses on counseling mortgage banking clients in origination, sale and servicing of loan transactions sold to secondary market investors — primarily Fannie Mae and Freddie Mac — and other financial institutions and securitization program participants.
About Troutman Sanders
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