Elite Business Service, LLC (“EBSC Lending”), a leader in financing real estate throughout the United States and a specialized multifamily and seniors housing bridge lending platform, today announced the closing of a $13,000,000 in bridge financing for a seniors housing community in Parsippany, New Jersey
PARSIPPANY, N.J., April 09, 2025 (GLOBE NEWSWIRE) -- EBSC Lending is pleased to announce the successful closing of a $13,000,000 bridge loan, finalized in just 23 business days from the initial capital request. The financing was originated by Martin Alex, CEO of EBSC Lending, and marks another strategic addition to our growing portfolio.
The borrower, a repeat EBSC client, required a short-term bridge loan to refinance existing debt and position their property - consisting of over 86 assisted living and memory care units - for long-term bank financing. Located in a well-established office park, the asset is expected to transition to permanent financing in the near future. Given the fast turnaround required, EBSC Lending provided a tailored solution, including a fully funded reserve for interest, real estate taxes, and insurance. The loan structure featured a competitive pay-rate with accruals to optimize the interest reserve, along with standard carveout and debt service guarantees.
“We continue to prioritize speed and flexibility, especially in high-demand metropolitan areas. This transaction underscores our commitment to delivering value for our seniors housing clients through customized lending solutions,” said Martin Alex, CEO of EBSC Lending.
David Palmer, VP of Special Assets, added, “We’re grateful for the opportunity to strengthen our relationship with this client by delivering a strategic bridge loan that aligns with their long-term goals. EBSC remains dedicated to offering innovative and dependable financing to our healthcare partners.”
EBSC Lending, a real estate lending business that provides customized financing solutions for a wide range of property types across primary and secondary U.S. and Canadian metropolitan markets, is targeting similar projects nationwide. With a history of navigating diverse market cycles, EBSC Lending has invested over $2 billion in balance sheet capital since its inception. The firm specializes in a broad array of financing options, including Bridge Loans, Construction Loans, Cannabis Financing, Commercial Bridge Loans, C-Pace, Fix & Flip Loans, Hard Money, Lines of Credit, Mezzanine Financing, Multifamily Bridge Loans, Rental Loans, and Self-Storage Facilities. EBSC Lending’s fully dedicated teams in origination, underwriting, closing, and servicing ensure efficient and timely execution to meet client needs.
Media Contact.
Martin Alex.
EBSC Lending.
(949) 229 6155.
info@EBSC-llc.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e6eac03c-d937-4212-87b6-a505c9c89231