Walker & Dunlop Secures $300M in Construction Financing for Mather Seniors Housing Project in Metro D.C.
TYSONS, VA. — Walker & Dunlop Inc. has secured $300 million in construction financing for The Mather, a two-building seniors housing community in Tysons. The project will be built in two phases, with Phase I projected to open in early 2024.
The transit-oriented project will feature 19- and 27-story towers with 300 independent living apartments, 16 assisted living apartments, 20 memory support suites and 42 private nursing suites. Community amenities will include multiple restaurants, a fitness center, wellness spa, art studio, rooftop terrace, saltwater pool, parking and retail. The Mather will feature approximately three acres of green space with landscaped gardens, walking paths, sculptures and an event lawn.
Situated at the corner of Westpark and Westbranch drives, The Mather is just 15 miles from Washington, D.C., and is located within a half-mile of the Tysons Corner Metro Station and the Tysons Galleria Shopping Mall.
Jonathan Schwartz, Aaron Appel, Ari Hirt, Sean Bastian and Taylor Geiger of Walker & Dunlop served as strategic advisors for the borrower, an entity doing business as Tysons LPC LLC that comprises a 50/50 equity partnership between nonprofit seniors housing operator Mather and Westminster Capital. The capital stack included a syndicated transaction led by The Huntington National Bank.