EBSC Arranges a $31 Million Loan for a 160-Unit Luxury Independent Living Community in Elk Grove, MN

EBSC has arranged a $31 million loan for a 160-unit luxury independent living community in Elk Grove, Minn. The loan was used to retire the existing construction financing.

The financing was structured with an initial period of interest-only, followed by a five-year term. Proceeds from the five-year, floating rate, non-recourse loan pays off the existing construction loan on the property. “We have worked closely with EBSC Lending before and they've been great partners to us for a number of years. We appreciated the opportunity to work with EBSC Lending again on this important financing. EBSC greatly values our firm-wide relationship and continued partnership in the growth of our seniors portfolio,” said David Ross, the Sponsor. “We look forward to this facility’s success as a great addition to our portfolio.”

The facility includes independent living, assisted living and memory care services. The community incorporates studios, one- and two-bedroom floorplans ranging between 410 and 992 square feet. Common-area amenities include a fitness center, a club room, a movie theater, lounges, a hair salon, a library, dining areas and outdoor courtyards. It also features services such as medication management, 24/7 staff, wellness checks, housekeeping, personal care and help with daily activities, laundry services and chef-prepared meals. Additionally, the garden-style development is within walking distance of several dining options, retail centers and green areas such as Hillside Park. The community is near Route 169, which provides direct access to downtown Minneapolis.

EBSC Lending is a real estate lending business that provides customized financing solutions for a wide range of property types across primary and secondary U.S. and Canadian metropolitan markets. With a history of navigating diverse market cycles, EBSC Lending has invested over $2 billion in balance sheet capital since its inception. The firm specializes in a broad array of financing options, including Bridge Loans, Construction Loans, Cannabis Financing, Commercial Bridge Loans, C-Pace, Fix & Flip Loans, Hard Money, Lines of Credit, Mezzanine Financing, Multifamily Bridge Loans, Rental Loans, and Self-Storage Facilities. EBSC Lending’s fully dedicated teams in origination, underwriting, closing, and servicing ensure efficient and timely execution to meet client needs.

Media Contact

Martin Alex
EBSC Lending
(949) 229 6155
info@EBSC-llc.com
www.ebsc-llc.com