Wilmington, N.C. — Live Oak Bank has provided a $40 million loan to finance the ground-up construction of a new seniors housing community in California.
Upon completion, the property will feature 140 assisted living and memory care units.
Live Oak Bank provided the financing, which features a five-year term and 42 months of interest-only payments, in conjunction with a $39.6 million CPACE loan provided by Nuveen Green Capital.
A joint venture between Harbert Seniors Housing Fund II and Harbert South Bay Partners is the borrower.
The post Live Oak Bank Provides $40M Construction Financing for Assisted Living, Memory Care Community in California appeared first on Seniors Housing Business.
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