BETHESDA, Md., Oct. 18,
2021 /PRNewswire/ -- Walker & Dunlop,
Inc. announced today its role in $300,000,000 in construction financing for
The Mather, a new luxury Life Plan Community located in
Tysons, Virginia. The
transit-oriented project will comprise two buildings with 300
independent living apartment homes, 16 assisted living apartments,
20 memory support suites, and 42 private nursing suites that will
be built in two phases, with the first phase projected to open in
early 2024.
Walker & Dunlop's Jonathan
Schwartz, Aaron Appel,
Ari Hirt, Sean Bastian, and Taylor Geiger served as
strategic advisors for Tysons LPC, LLC, a 50/50 equity partnership
between Mather and Westminster Capital. The complex capital stack
included the syndicated transaction led by The Huntington National
Bank.
Mr. Schwartz commented, "Despite some uncertainty surrounding
the senior housing market during the COVID-19 pandemic, The Mather
has experienced exceptional pre-sales velocity and is well ahead of
projections. The property is very well located and caters to the
ever-growing Washington, D.C.
metro area." He added, "We were pleased to be able to provide
strategic support to Mather and Westminster Capital, both
experienced and well-respected leaders in the Life Plan Community
space."
Situated at the corner of Westpark and Westbranch Drives, The
Mather is just 15 miles from the Nation's Capital and is
conveniently located within half a mile of the Tysons Corner Metro
Station and the Tysons Galleria Shopping Mall. The Mather will be
Tysons' preeminent Life Plan Community; a residential hub that was
carefully designed for transit convenience, a walkable lifestyle,
and environmental sustainability. The community will include 19-
and 27-story towers connected by central amenities, including
multiple restaurants, a fitness center, wellness spa, art studio,
rooftop terrace, saltwater pool, parking, and retail. The Mather
will boast approximately three acres of green space, featuring
landscaped gardens, walking paths, sculptures, an event lawn, and
more.
Walker & Dunlop is a leader in the industry and was ranked
the top capital provider to the U.S. multifamily market,
originating $31 billion in
transactions and lending over $24
billion for multifamily properties in 2020. The firm also
has significant experience in the senior housing space, originating
nearly $600 million of seniors
housing, skilled nursing, and healthcare transactions through
various capital sources in 2020. For information about Walker &
Dunlop's view on the apartment market, read our
latest Multifamily Outlook Report.
About Walker & Dunlop
Walker &
Dunlop (NYSE: WD) is the largest provider of capital to the
multifamily industry in the United
States and the fourth largest lender on all commercial real
estate including industrial, office, retail, and hospitality.
Walker & Dunlop enables real estate owners and operators to
bring their visions of communities — where Americans live, work,
shop and play — to life. The power of our people, premier brand,
and industry-leading technology make us more insightful and
valuable to our clients, providing an unmatched experience every
step of the way. With over 1,000 employees across every major
U.S. market, Walker & Dunlop has consistently been named
one of Fortune's Great Places to
Work® and is committed to making the
commercial real estate industry more inclusive and
diverse while creating meaningful social, environmental,
and economic change in our communities.
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SOURCE Walker & Dunlop, Inc.