Erickson Senior Living Secures Over $2 Billion Credit Facility Led by Truist to Accelerate National Growth

Financing from Truist and 19 other banks underscores confidence in the senior living leader’s business model and supports expansion to meet surging demand for senior living 

Erickson Senior Living, a nation-leading developer and manager of continuing care retirement communities, announced the closing of a $2.17 billion five-year credit facility, effective Nov. 14. The facility is led by Truist, with participation from 19 other banks including M&T Bank, Bank of America, Wells Fargo, PNC Bank, Bank of Montreal, and Huntington Bank. 

“This facility underscores the ongoing confidence in our business model and provides us with additional flexibility to execute on the tremendous growth roadmap ahead,” said Alan Butler, chief executive officer at Erickson. “We value the strong support from our banking partners. This financing expansion demonstrates their leadership in the evolving senior living landscape and acknowledges Erickson Senior Living’s role as a leader in the industry.”

According to the National Investment Center (NIC), the U.S. population aged 80 and older is projected to grow by 4 million between 2025 and 2030, reaching 18.8 million. This demographic shift is creating unprecedented demand for senior living options, outpacing current supply. 

With more than 40 years of experience serving the evolving needs of seniors and their families, Erickson Senior Living is uniquely positioned to address this gap. The company’s people-first culture creates communities where residents thrive and team members can build careers for life, while its disciplined approach to fiscal management ensures long-term stability. 

Since 2021, Erickson Senior Living has delivered more than 4,000 new units. Building on that success, the new credit facility will fuel the next phase of expansion, supporting the addition of more than 5,000 new units over the next five years at new and developing communities. 

These include: 

• The Grandview in Bethesda, Maryland — Erickson’s first vertical living community, which began welcoming its first residents last month
• Emerson Lakes in Sarasota, Florida, currently under construction
• New locations in Clarksville, Maryland; Boynton Beach, Florida; and Franklin, Tennessee

Erickson continues to leverage its scale and unique capabilities while remaining committed to preserving its strong culture and delivering exceptional financial results. As the company expands its national presence in pursuit of its mission to help people live better lives, it will focus on bringing its distinctive lifestyle to more seniors across the country.

“Truist is pleased to serve as lead arranger for this significant financing for Erickson Senior Living,” said Phillip Avant, head of Senior Care Banking for Truist. “This facility reflects our confidence in Erickson’s proven track record and commitment to meeting the growing demand for senior living communities nationwide. Truist’s purpose is to inspire and build better lives and communities and our 50-plus teammates in Senior Care Banking take great pride in supporting the industry’s growth.”

This financing marks a pivotal step in Erickson Senior Living’s long-term strategy to deliver exceptional communities that meet the needs of America’s rapidly growing senior population.

About Erickson Senior Living
Erickson Senior Living is a nation-leading developer and manager of continuing care retirement communities. Currently, more than 30,000 residents are enjoying life across its national network of communities. Erickson Senior Living and National Senior Communities, Inc. (NSC) work together to ensure residents experience a dynamic lifestyle and enjoy the highest quality programs and services for the best possible value. Additional information is available at www.ericksonseniorliving.com.

About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has leading market share in many of the high-growth markets in the U.S. and offers a wide range of products and services through wholesale and consumer businesses, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. Truist is a top-10 commercial bank with total assets of $544 billion as of Sept. 30, 2025. Truist Bank, Member FDIC. Learn more at Truist.com.