EBSC Lending Provides $32 Million Interest-Only Construction and Refinance Facility to Meridian Capital for Multifamily Conversion Project in Fall River, Massachusetts

IRVINE, Calif., June 2, 2026 - Elite Business Service, LLC d/b/a EBSC Lending (“EBSC Lending”), a nationwide private real estate lender, announced the closing of a $32 million interest-only construction and refinance facility to Meridian Capital for a planned multifamily conversion project in Fall River, Massachusetts.

The financing was structured as a 36-month, interest-only facility to support Meridian Capital’s refinance, construction, and redevelopment objectives. The project involves the planned adaptive reuse of an existing vacant industrial building into a residential multifamily asset consisting of 182 loft-style apartment units.

The loan was underwritten to Meridian Capital and designed to provide flexible private capital during the project’s conversion and redevelopment phase. Proceeds are intended to support the borrower’s refinancing needs, construction execution, project costs, and broader business plan for the property.

“This financing supports our transaction timeline and allows us to move forward with the next phase of the project. EBSC Lending evaluated the collateral, structure, and execution plan in a practical manner, which was important to advancing the transaction,” said Joseph Kalkstein, sponsor of the project.

The transaction reflects a borrower-driven financing need where collateral value, redevelopment execution, construction planning, and certainty of capital were central to the underwriting process. EBSC Lending reviewed the asset, use of proceeds, borrower structure, project plan, construction scope, projected repayment strategy, and overall transaction profile in connection with the financing.

“This transaction reflects the type of real estate financing need EBSC Lending is built to evaluate - a defined collateral position, a specific construction and redevelopment plan, and a borrower with a clear execution strategy,” said Martin Alex, President of EBSC Lending. “Our role was to provide a practical private lending structure that supported the transaction's timeline while maintaining disciplined underwriting around the asset, budget, valuation, and repayment path.”

The interest-only structure provides the borrower with flexibility during the construction and conversion period. The facility is intended to support the borrower’s ability to advance the project through redevelopment, repositioning, and eventual stabilization.

About EBSC Lending

EBSC Lending is a nationwide private real estate lender providing customized lending solutions for real estate investors, developers, and sponsors. EBSC Lending offers asset-based financing for commercial and residential investment-purpose real estate transactions, including bridge loans, acquisition financing, refinance, cash-out refinance, construction financing, land and development loans, multifamily bridge loans, hospitality financing, assisted living facility financing, cannabis real estate financing, mezzanine financing, and other private lending structures.

EBSC Lending evaluates transactions based on collateral, borrower experience, business plan, use of proceeds, repayment strategy, valuation, title, diligence, and overall transaction structure. Loan programs, terms, and availability are subject to underwriting, collateral review, due diligence, legal documentation, title, valuation, and final approval.

For more information, visit www.ebsc-llc.com.

Media Contact

EBSC Lending
Martin Alex
President
Email: m.alex@ebsc-llc.com
Website: www.ebsc-llc.com