Financing secured for Elk River Senior Living in Minnesota

MINNEAPOLIS, Feb. 29, 2024 – JLL Capital Markets has successfully secured financing for Elk River Senior Living, a 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.

Elk River Senior Living, built in 2018, is well located in Elk River, Minnesota in a residential and commercial neighborhood, providing residents with seamless connectivity to regional highways. The community offers a wide range of amenities including lounges, activity rooms, dining areas, outdoor courtyards and unit amenities such as cable TV, emergency pendants, full kitchens or kitchenettes and private baths, all aimed at enhancing the living experience for its residents.

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 Elk River Senior Living. Their expertise and guidance ensured a successful transaction and showcased JLL's dedication to providing customized capital solutions for clients in the senior living market.

The financing secured by JLL Capital Markets, consolidated five different debt obligations that were associated with the construction of the project. This financing arrangement demonstrates JLL's commitment to delivering tailored capital solutions to meet the unique requirements of Elk River Senior Living and its stakeholders.

“Our ownership group has worked with JLL on several projects. Jeff Lepley and his team at JLL have delivered on every project. They have a broad knowledge of the market and offer significant insight and guidance before, during and after the transaction has closed. We look forward to partnering with Jeff and his team on future opportunities,” said Greg Johnson, Managing Partner for the borrower.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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