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  • Aaron Donovan.

EBSC Lending has announced the completion of a $39.3 million balance sheet loan for a string of seniors housing-associated finance deals.

Irvine, CA.- EBSC Lending has announced the completion of a $39.3 million balance sheet loan for a string of seniors housing-associated finance deals. The company’s senior housing and healthcare finance team’s Senior Vice President Aaron Donovan worked on the transactions, which totaled roughly $39.3 million.


One transaction was for a $15.9 million first mortgage. The property is a 69-unit assisted living, memory care and short-term rehabilitation community in Palm Beach County, Florida. The full-service, senior living health care community will be located at the gates of Disney World, within four miles of Florida Hospital Celebration Health. The EBSC team of Managing Director Martin Alex and Senior Vice President Aaron Donovan arranged a two-and-a-half-year loan, which is structured with two years of interest-only payments. Amenities include two restaurants, a spa, an all-purpose room, a state-of-the-art movie theater and a top-floor solarium. The company’s portfolio includes communities throughout Texas, Colorado, Utah, Idaho, Colorado, Washington and Arizona. This is the second senior living transaction the firm has financed for the sponsor.


The seniors housing and healthcare finance team also closed a $23.4 million permanent, floating rate loan for a 101-unit independent and assisted living facility with a memory care component located in Vineland, New Jersey. Funding for the refinance was arranged through EBSC's SFRP (Structured Fixed Rate Program) loan product. “The creativity, flexibility and perseverance of the entire EBSC team was outstanding. This transaction presented unique challenges through the underwriting process. Even though there are always many moving parts in a complicated transaction like this, the EBSC team quickly pulled together a well-written application. The result: we received a firm commitment within 10 days of application, and the loan closed approximately 22 days later. It was a superb performance.” said the sponsor, Troy Ballard.


EBSC is an industry leader in delivering innovative mortgage credit solutions. EBSC Lending provides custom working capital solutions to commercial businesses across a wide range of industries.


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