ELK RIVER, Minn. — JLL Capital Markets has provided $18.7 million in financing for Elk River Senior Living in Elk River, approximately 30 miles northwest of Minneapolis.
The community offers independent living, assisted living and memory care services. The HUD/FHA 232/223(f) loan equates to $173,151 per unit.
The community was built in 2018. The loan consolidates five debt obligations from the project’s construction into a single, HUD-insured loan.
Jeff Lepley and Alex Sheaffer led the JLL team.
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