Capital Funding Group (CFG) Closes $179.8 Million Construction Loan on Behalf of Erickson Senior Living

Capital Funding Group (CFG), a leader in the nationwide healthcare and multifamily financing industry, today announced the closing of a $179.8 million construction loan on behalf of Erickson Senior Living. The financing will support the first phase of construction for Emerson Lakes, a continuing care retirement community, currently under development in the Lakewood Ranch community in Sarasota County, Florida. CFG closed the financing on September 22, 2025.

Developed and managed by Erickson Senior Living, phase one of this project will include four buildings—one community building and three residential buildings—with a total of 319 independent living units. Once all project phases are completed, Emerson Lakes will be an 87-acre campus featuring 1,015 independent living units and 130 continuum care units.

“Our work with Erickson Senior Living underscores CFG’s ability to execute complex financings that bring transformative projects to life,” said Ken Assiran, CFG Managing Director – Senior Housing. “Erickson’s communities represent the future of senior living—where thoughtful design and long-term vision meet. We’re pleased to deliver the capital solutions that make this kind of innovation possible.”

“We are proud of our strong partnership with CFG and appreciate their support of this next chapter of growth for Erickson Senior Living with our new community, Emerson Lakes, in Lakewood Ranch, Florida,” said Christian Sweetser, Erickson Senior Living CFO. “Together, we’re building more than a community—we’re building a legacy of excellence in senior living. Our mission is to ensure that seniors and their families have access to the options they deserve, today and for generations to come.”

This financing is the second construction loan CFG has executed on behalf of Erickson Senior Living. On August 16, 2024, CFG closed a $185 million construction loan to support the first phase of construction for The Grandview, a continuing care retirement community currently under development in Bethesda, MD that will feature 1,185 independent living units and 214 assisted living and memory care units. Phase I of The Grandview, known as the West Village, will feature two 14-story buildings with a total of 501 independent living units.

CFG President Erik Howard added, “Partnering again with Erickson reflects the strength of our relationship and our commitment to helping clients achieve their growth goals. At CFG, we combine deep sector knowledge with the creativity and flexibility to structure large, multi-phase transactions that position our clients—and the residents they serve—for lasting success.”

Across the nation, the demand for high-quality senior housing is far outpacing supply, and Erickson Senior Living is at the forefront of closing that gap with new developments and expansions of existing communities. Erickson’s approach also redefines expectations, offering older adults and their families greater choice, security, and peace of mind as they plan for the future. The company is proactively delivering thoughtfully designed communities that blend modern residences, comprehensive healthcare services, and enriching lifestyle amenities. 

With this latest transaction, CFG continues to expand its leadership in financing assisted living communities nationwide.

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About CFG Bank

CFG Bank, headquartered in Baltimore, Maryland, provides flexible financing and online banking solutions to the national healthcare and multifamily markets and the Mid-Atlantic commercial banking market. CFG Bank is the largest bank headquartered in Baltimore. CFG Bank has grown from $1 billion in assets at the end of 2019 to over $5.6 billion in assets at the end of June 2025 and is among the five largest and most experienced healthcare bridge-to-HUD lenders in the country, serving its clients and helping them grow for over 30 years. CFG Bank transforms the banking experience by delivering big bank capabilities and expertise, coupled with relationship-driven boutique bank service. CFG Bank has branches in Lutherville and Baltimore City, and a cashless branch in Annapolis. For more information, visit www.CFG.bank, and follow CFG Bank on LinkedIn, Facebook, Instagram, and X. Member FDIC.

About Capital Funding Group (www.capfundinc.com)

CFG is a full-service provider of comprehensive financing solutions for the national healthcare industry, focusing on the long-term care, assisted living and hospital sectors, and multifamily industry. Headquartered in Baltimore, Maryland, CFG is known as a one-stop shop, with expertise in HUD loans, bridge lending, mezzanine financing, working capital loans, and commercial banking services through the CFG family of companies.

About Capital Funding, LLC

Capital Funding, LLC, a subsidiary of CFG Bank, is the national leader in the FHA-insured mortgage industry, providing more than $6 billion in Section 232 mortgages nationwide. CFG Bank is an Equal Housing Lender. Member FDIC.

About Erickson Senior Living, LLC

Erickson Senior Living is a nation-leading developer and manager of continuing care retirement communities. More than 30,000 residents are enjoying life across its national network of communities, supported by more than 16,000 team members dedicated to serving seniors. More information about Erickson Senior Living is available at www.ericksonseniorliving.com.