Senior Housing News September 4, 2024
Financings
CFG closes on $185M construction loan for Erickson
Capital Funding Group (CFG) announced on Sept. 4 that it closed on a $185 million construction loan on behalf of Erickson Senior Living.
According to a press release, the financing will support the first phase of construction for The Grandview, a continuing care retirement community currently under development. The first phase of the project features two 14-story buildings consisting of 501 independent living units.
Upon completion, the campus will include seven buildings consisting of 1,185 independent living units and 214 assisted living and memory care units, with multiple on-site restaurants, a fitness center, a swimming pool salon, art studio and multiple activity rooms and outdoor terraces, the release states.
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