Senior Housing News April 26, 2024
Financings
EBSC Lending provides $26.2M for affordable housing
EBSC Lending provided $26.2 million in financing for a 41-unit affordable senior housing complex in Michigan.
According to a press release, the non-profit owner and borrower will use the financing to to refinance existing debt and fund capital improvements to the community to maintain its affordable status, along with creating new loft-style apartments.
Upgrades for the community will include unit interiors, elevators, building exteriors, common areas and building systems, alongside others.
Cambridge provides $15.5M HUD refinancing loan
Cambridge Realty Capital Companies announced it has provided a $15.5 million HUD Lean loan for refinancing purposes for The Pointe at Eastgate located in Algonquin, Illinois.
According to a press release, the community is in...
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