News Summary
Capital Funding Group has successfully closed a $179.8 million construction loan for the Emerson Lakes senior living community in Sarasota, Florida. This financing supports the first phase of a project that will ultimately span 87 acres, providing 1,015 independent living units and continuum care options. Erickson Senior Living, responsible for the development, aims to enhance retirement housing offerings in the region. The initial phase includes 319 independent living units and is anticipated to be completed by fall 2026.
Sarasota, Florida—Capital Funding Group has announced the successful closing of a $179.8 million construction loan for the Emerson Lakes senior living community, marking a significant development in Florida’s retirement housing sector.
Major Loan Details and Purpose
The Capital Funding Group, a Baltimore-based mortgage lender, secured the loan on behalf of Erickson Senior Living, a national manager and developer of retirement communities. The financing will fund the first phase of construction for Emerson Lakes, a continuing care retirement community located in Sarasota County, Florida. The loan was officially closed on September 22, 2025.
Scope of the Initial Phase
The initial phase will include four structures: one community-building facility and three residential buildings. This development will initially provide 319 independent living units. When fully completed, Emerson Lakes is projected to cover 87 acres and will encompass 1,015 independent living units along with 130 continuum care units.
Development and Management
Erickson Senior Living is responsible for both the development and management of the Emerson Lakes project. The company operates in the senior housing sector with a history spanning over 40 years and currently manages 23 communities across 11 states.
Funding and Financing Context
The loan closed on September 22, 2025, is the second secured financing for Erickson Senior Living provided by Capital Funding Group. In August 2025, CFG closed a $185 million loan for a retirement community under development in Bethesda, Maryland. These transactions highlight CFG’s ability to handle complex, multi-phase financings for large-scale senior living developments.
Statements from CFG Leadership
Ken Assiran, managing director of CFG, emphasized the company’s capacity to execute complex financings for transformative projects. Meanwhile, Erik Howard, CFG’s president, highlighted the strength of the partnership and CFG’s capability to facilitate multi-phase transactions, underscoring their role in supporting senior housing infrastructure growth.
Community Features and Resident Options
Emerson Lakes is designed as a comprehensive community offering a range of amenities for residents. Housing options include a one-time entrance fee that is 80% refundable or a declining balance entrance fee, supplemented by monthly service fees. The entrance fees range from $343,000 to $1,373,000, and monthly service packages cost between $3,214 to $5,612.
The first phase will include 25 different floor plan options across 315 residences, catering to diverse preferences and needs.
Construction Timeline and Future Development
Construction of the first residential building and clubhouse is scheduled for completion by fall 2026. Subsequent buildings are planned to open in 2027 and beyond, with full community operations expected once all phases are finished.
Background on Erickson Senior Living
With four decades of experience, Erickson Senior Living specializes in developing and managing senior living communities, with a presence across 11 states. The company’s active portfolio of 23 communities demonstrates its longstanding commitment to senior housing developments nationwide.
Deeper Dive: News & Info About This Topic
HERE Resources
Capital Funding Group Finances $179.8 Million Florida Retirement Community
Residents Frustrated Over Purple Line Construction Disruptions
Additional Resources
- YourObserver: Emerson Lakes Senior Living
- Finger Lakes Daily News: Emerson Park Upgrade
- Florida YIMBY: Erickson Senior Living at Lakewood Ranch
- Bradenton Herald: Local News Article
- Google Search: Erickson Senior Living
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