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Live Oak Bank Funds $8.1M Refinancing for Greeley Village Assisted Living in Colorado

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Greeley Village in Greeley, Colo., features 71 assisted living and memory care units for seniors.

GREELEY, COLO. — Live Oak Bank has provided an $8.1 million loan for Greeley Village, a 71-unit assisted living and memory care community in Greeley, approximately 50 miles north of Denver.

The borrower is KSL Seniors, a developer/owner with communities in Colorado, Utah, Idaho and Oregon. The 51,000-square-foot community opened during in fourth-quarter 2019. Cadence Senior Living operates the property.

The three- to five-year, floating-rate loan refinanced a construction line of credit, providing bridge-to-permanent financing. It also allowed the borrower to recapture a line of credit capacity to pursue future projects.

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