JLL has successfully secured financing for Elk River Senior Living, a 108-unit community in Minnesota that offers independent living, assisted living and memory care services. The $18.7 million refinancing was facilitated through the HUD/FHA 232/223(f) program at a rate of $173,151 per unit.
Leading the effort was JLL’s Capital Markets Debt Advisory team, with Managing Director Jeff Lepley and Associate Alex Sheaffer playing pivotal roles in securing the financing for this property located at 11124 183rd Circle NW. This successful transaction consolidated five separate debt obligations associated with the project’s construction.
Built in 2018, Elk River Senior Living boasts an array of amenities including lounges, activity rooms,dining areas,outdoor courtyards,and unit amenities.”Our ownership group has had multiple projects with JLL,” said borrower managing partner Greg Johnson.”Their extensive market knowledge provides invaluable guidance throughout every stage of our transactions.”
This announcement marks another milestone achievement by JLL as they continue to provide expert financial solutions across various markets without compromising on quality or service excellence.
