EBSC Arranges $31M Loan for 160-Unit Independent Living (Elk Grove).
- Brian Stark.
- Aug 31, 2025
- 3 min read
Updated: 5 days ago
ELK RIVER, MN — EBSC Lending has arranged a $31 million non-recourse loan to refinance a 160-unit luxury independent living community located in Elk River, Minnesota. The financing was used to retire the property’s existing construction loan and position the asset for long-term stabilized operations.
The loan features an initial interest-only period followed by a five-year term and is structured as a floating-rate, non-recourse facility, providing flexibility while supporting the continued growth of the sponsor’s senior housing portfolio.
Transaction Overview
The subject property is a garden-style senior living community offering a full continuum of care, including independent living, assisted living, and memory care services. The community features a mix of studio, one-bedroom, and two-bedroom residences, with floorplans ranging from approximately 410 to 992 square feet.
Residents have access to a comprehensive suite of amenities designed to support both lifestyle and wellness, including a fitness center, club room, movie theater, lounges, hair salon, library, dining areas, and outdoor courtyards. In addition to physical amenities, the community provides essential services such as medication management, 24/7 staffing, wellness checks, housekeeping, personal care assistance, laundry services, and chef-prepared meals.
The property is situated within walking distance of multiple dining options, retail centers, and green spaces, including Hillside Park, and benefits from proximity to Route 169, which provides direct access to downtown Minneapolis.
In connection with the refinancing, David Ross, the Sponsor, stated, “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. We look forward to this facility’s success as a great addition to our portfolio.” The transaction reflects an ongoing relationship between EBSC Lending and the sponsor, with a continued focus on senior housing investment and portfolio expansion.
Market Context + What It Means
Demand for senior housing continues to increase as demographic trends drive growth in the aging population, particularly in suburban markets that offer accessibility, healthcare proximity, and community-oriented living. Properties that provide a full spectrum of care services are well positioned to meet long-term demand while supporting operational stability.
At the same time, refinancing construction debt into longer-term, interest-only financing allows sponsors to stabilize assets, improve cash flow, and align capital structures with operational performance. Non-recourse refinancing solutions are especially valuable in the senior housing sector, where flexibility and certainty of execution are critical.
By delivering a five-year, non-recourse refinancing loan, EBSC Lending enabled the sponsor to retire construction debt, enhance balance sheet stability, and continue expanding its senior housing portfolio with confidence.
Frequently Asked Questions
What type of loan did EBSC Lending arrange for this community?
EBSC Lending arranged a $31 million non-recourse refinancing loan with an initial interest-only period and a five-year term to retire existing construction financing.
What types of services does the community provide?
The community offers independent living, assisted living, and memory care, along with wellness, personal care, dining, and housekeeping services.
Why is Elk River, Minnesota an attractive senior housing market?
Elk River offers suburban accessibility, proximity to retail and green spaces, and convenient highway access to Minneapolis, making it attractive for senior living residents and operators.
What types of senior housing projects does EBSC Lending finance?
EBSC Lending provides bridge, construction, and refinancing solutions for senior housing, multifamily, mixed-use, and other commercial real estate assets nationwide.
Related EBSC Lending Financing Programs
EBSC Lending provides flexible private capital solutions across the United States, including:
Commercial Bridge Loans – Short-term financing for transitional and stabilized commercial real estate assets
Construction Loans – Customized lending solutions for independent living, assisted living, and memory care communities
Multifamily Financing – Acquisition, construction, and refinance loans for apartment and residential communities
