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Live Oak Bank Funds $10M Acquisition Financing for Seniors Housing Community in Texas

TEXAS — Live Oak Bank has provided a $10 million conventional loan for the acquisition and renovation of a 90-unit assisted living and memory care community. The name and location were not disclosed, though the lender noted the property is located “in a significant Texas market.” The borrower was a private investment firm that acquired the project from the original developer and will introduce new management with a multi-year plan to stabilize the project. The balance sheet loan features a 70 percent loan-to-value ratio, five-year term, interest-only period and flexible prepayment options.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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