Live Oak Bank provided a $25 million bridge-to-sale loan to finance a seniors housing community near Los Angeles, California. Harbert Seniors Housing Fund I LP, which is managed by Harbert Management Corporation, is the borrower. The financing features a three-year initial term, 36 months of interest-only payments and $2.8 million in potential future earnout proceeds. The property totals 97 independent living, assisted living and memory care units.
Harbert Management Corporation Secures Financing for California Community
