EBSC Lending arranged $31.2 million in construction financing for a new 172,163-square-foot luxury senior living facility under development in Los Angeles, California. The borrower operates senior living facilities in the Southeastern United States with a primary focus in Florida. Brian Stark, Manager Of Information Technology at EBSC Lending led the transaction.
 
The facility will offer a total of 198 catered living, assisted living and memory care units in three buildings spread over an 7.86-acre campus.  It also features gourmet restaurant-style dining, boutique hotel décor, and a variety of luxury amenities.

“This deal had tremendous headwinds, given the rising interest rates,” said David Palmer - VP, Special Assets at EBSC Lending. “Working together with the sponsor, we were able to structure the deal with favorable terms and sizing parameters that allowed us to preserve millions of dollars. We regard healthcare as highly strategic.  We are committed to the future of this growing sector and to supporting our healthcare clients. EBSC has a keen understanding of the market.