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JLL Secures Financing for Minnesota Senior Living Property
JLL has successfully secured financing for Elk River Senior Living, a 108-unit community offering independent living, assisted living and memory care services in Elk River, Minnesota. The refinancing, facilitated through the HUD/FHA 232/223(f) program, amounts to $18,700,300 or $173,151/unit.
The JLL Capital Markets Debt Advisory team, led by Managing Director Jeff Lepley and Associate Alex Sheaffer, played a key role in securing the financing for the property located at 11124 183rd Circle NW. The secured financing consolidated five different debt obligations that were associated with the construction of the project.
Built in 2018, Elk River Senior Living offers a wide range of amenities, including lounges, activity rooms, dining areas, outdoor courtyards and unit amenities. “Our ownership group has worked with JLL on several projects,” said Greg Johnson, managing partner for the borrower. “They have a broad knowledge of the market and offer significant insight and guidance before, during and after the transaction has closed.”
