KNOXVILLE, TN / ACCESS Newswire / June 25, 2025 / Mesaba Capital is completing the equity fundraising for three senior living communities, which are set to break ground in 2025. These three new locations are slated for construction in Lebanon, Cookeville, and Knoxville, Tennessee. Each of them will bring vital resources to their respective areas, providing a home for the elderly community of the region that strives to genuinely care for and enhance the quality of life for all residents while hiring local staff to boost the economy of each community. These developments will include assisted living, independent living, and memory care.

Justin Elshire, Managing Partner at Mesaba Capital Partners.

Larger Market Context

Not only are these senior living communities essential within the microcosm of these individual locations and their surplus population of elderly individuals, but they are also vital on a macro level. Currently, the US is facing a drastic shortage of elderly living communities, as the country is predicted to hit a 500,000-unit shortfall in senior housing by 2028.

The solution is straightforward: build more elderly living communities. However, to do so requires substantial funds, mainly to ensure that these communities can fully, medically, and authentically provide for the people they serve. The estimated price of closing this gap between the elderly care needed and the elderly care currently available is over $275 billion.

That is a monumental sum of money, but the only way to make a difference is to get started chipping away at it. That's where Mesaba Capital comes in. Mesaba is an LP Equity Investment fund that is actively working to help combat the lack of equity in the marketplace for new Senior Living Communities.

Leadership Spotlight - Justin Elshire

Justin Elshire is a distinguished professional in the field of healthcare real estate, currently serving as Managing Partner at Mesaba Capital Partners. He is responsible for all capital sourcing and financing avenues for development projects identified as investable targets for the Mesaba team.

Justin was inspired to take such an active role in this national situation by his own family's legacy in senior care. When he was young, his mother worked as a nurse in elderly care, while his grandparents played a crucial role in his development. As a result, Justin not only spent a great deal of time in and around elderly care communities as a child but also spent a great deal of invaluable time with older adults. To this end, he feels a unique dedication to the senior community and is determined to use his financial expertise to honor his family's memory.

Community Features & Impact

Each of these three new senior living community locations will provide lifestyle-enhancing senior care. All the locations will be moving forward this year with construction and will be fully equipped to provide Memory Care services, as well as Assisted and Independent living care. As such, these locations will provide medical support to those in need and significantly alleviate the waitlists in these underserved areas. The Mesaba team is focused on bringing more into Tennessee and other regions lacking availability over the coming years. Several new locations in TN have been identified for the 2026 calendar year.

Thanks to Mesaba's fundraising work, there will no longer be a need to wait extensive amounts of time to gain access to such communities in these regions, which is a remarkable benefit to the quality of life, wellness, and accessibility of these elderly individuals.

A Personal Trajectory

Justin says, "I learned my love of finance, selling, and interacting with people on my grandparents' farm. I would pick all the crops, set the market price, and then sell to people who would drive by the highway where the farm was closest to. It taught me the elasticity of markets, selling, and most importantly, how to deal with customers of all walks of life. I think about these moments with my grandfather quite often, even when working with large hedge funds or institutional capital. This all translates as people are people, no matter their titles."

Recognition & Partnerships

• Recognized by Marquis Who's Who 2025 (WSJ)

• Lument Real Estate Capital "Rookie of the Year" 2023

• A Board Member, The Leukemia & Lymphoma Society

• A speaker on the Senior Housing Unfiltered podcast

About Mesaba Capital

Mesaba Capital Partners (MCP) is a fully integrated real estate development fund focused on partnering with industry-leading architects, contractors, and operators to build and operate top-line facilities for its clients and ownership partners. MCP and its team of partners have developed over $1.0 billion in projects over the past decade, comprising more than 100 projects and 7,700 Senior Living units. Our team has raised over $ 400 million in prior Senior Living-focused funds and transacted over $2 billion in debt solutions within the Senior Housing sector.

To contact us, visit mesabacapital.com.

Contact Information

Company: Mesaba Capital Partners (MCP)
Website: https://mesabacapital.com/
Phone: 317-665-0266
Address: Knoxville, Tennessee

SOURCE: Mesaba Capital Partners (MCP)