EBSC Lending Provides $26.2M for 41-Unit Michigan Affordable

MICHIGAN — EBSC Lending has provided $26.2 million in financing for a 41-unit affordable senior housing community located in Michigan. The financing supports the long-term preservation and improvement of the property while maintaining its affordable housing designation.

Transaction Overview

The borrower is a non-profit owner-operator that will use the loan proceeds to refinance existing debt and fund capital improvements across the community. The financing also supports the creation of new loft-style apartments, enhancing unit mix and livability while preserving affordability for senior residents.

Planned upgrades include comprehensive improvements to unit interiors, elevators, building exteriors, common areas, and core building systems, among other enhancements. These improvements are designed to extend the useful life of the property, improve resident experience, and ensure ongoing compliance with affordability requirements.

EBSC Lending structured the financing to align with the non-profit sponsor’s mission-driven objectives, balancing long-term affordability preservation with the need for modernization and capital investment.

Market Context + What It Means

Affordable senior housing communities face increasing pressure from rising operating costs, aging building systems, and limited access to flexible capital. Refinancing solutions that pair debt restructuring with capital improvement funding are critical to preserving affordability while ensuring safe, modern living environments for residents.

Private lenders with experience financing mission-driven and regulated housing assets play a key role in sustaining affordable housing stock, particularly when projects require tailored underwriting and long-term perspective.

By providing $26.2 million in financing, EBSC Lending enabled the non-profit owner to refinance legacy debt, invest in critical upgrades, and preserve an affordable senior housing community for years to come.

Frequently Asked Questions

What type of financing did EBSC Lending provide?

EBSC Lending provided a $26.2 million refinance and improvement loan for an affordable senior housing community.

How will the loan proceeds be used?

Proceeds will be used to refinance existing debt, fund capital improvements, and support the creation of new loft-style apartments.

What improvements are planned?

Upgrades include unit interiors, elevators, building exteriors, common areas, and building systems, among other enhancements.

What types of affordable housing projects does EBSC Lending finance?

EBSC Lending provides refinance, bridge, and improvement financing for affordable, senior, multifamily, and mixed-use housing assets nationwide.

Related EBSC Lending Financing Programs

EBSC Lending provides flexible private capital solutions across the United States, including:

• Affordable Housing Financing – Refinance and preservation capital

• Senior Housing Financing – Customized solutions for independent and assisted living communities

• Commercial Bridge Loans – Transitional financing for regulated and market-rate assets