EBSC Lending Closes $19.3 Million Construction Loan for a 40-Unit Luxury Community Property in Morehead City, NC.

Aaron Donovan.
Sep 8
2 min read

Updated: 6 days ago

Quick Turnaround for Financing.

Morehead City, NC September 8, 2025 - EBSC announced today that it has successfully closed financing on a new multifamily and mixed-use development in Morehead City, North Carolina, just 21 days after stepping in to replace the original lender, who exited the deal one week before the scheduled closing.

“When the original lender unexpectedly pulled out just days before closing, our team was able to mobilize quickly and bring the deal across the finish line in three weeks,” said Martin Alex, Chief Executive Officer of EBSC. “This is exactly where we see opportunity—in stepping in to deliver certainty for strong projects backed by capable sponsors. This development checked all the boxes.”

Located near the recently renovated Carteret General Hospital and several employment centers, schools, and retail destinations, the five-story building will feature a blend of studio, one-, and two-bedroom units. Each residence will include luxury wood flooring, two-tone accent paint, stainless steel appliances, high-end kitchen fixtures, and integrated smartbox technology to support modern wiring and Wi-Fi needs.

Planned amenities include controlled access, concierge service, courtesy patrol, rooftop terraces, and 8,100 square feet of ground-floor retail space. Residents will also have access to a tenant lounge and coworking space, a clubhouse, swimming pool, outdoor pavilion with grilling areas, playground, and dog park.

The property’s location offers easy access to Morehead City’s beaches and waterways, making it ideal for both residents and businesses.

“We’ve worked closely with EBSC for many years, and they’ve always been outstanding partners,” said the project’s sponsor in a statement. “This is an exciting, high-growth area, and we believe this development will attract strong demand from renters seeking spacious, well-appointed living spaces.”

This marks the sponsor’s second active project in the North Carolina market, with two additional sites currently moving through the entitlement process.

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.