BR properties obtain refinancing

Walker & Dunlop, a commercial real estate lending business in Maryland, said it has arranged $50.6 million in refinancing for a Baton Rouge apartment complex and five health care facilities in Baton Rouge and New Orleans.

The company announced the refinancing came through U.S. Housing and Urban Development loan programs.

The company said it was able to refinance the existing HUD and conventional loans on the properties and structure fixed-rate long-term financing that reduced the borrower’s debt service significantly.

The developments that got the financing in Baton Rouge are Citiscape at Essen, an apartment complex on Mancuso Lane, Colonial Care Retirement Center on Old Hammond Highway, Lakewood Quarters Assisted Living on Summa Avenue and Nottingham Regional Rehab Center on Westfork Drive. Carrington Place of New Orleans, on Tullis Drive, also received financing.