Live Oak Bank Closes Two Balance Sheet Loans

Live Oak Bank Closes Two Balance Sheet Loans

Utilizing its balance sheet lending program, Live Oak Bank closed two conventional loans on behalf of senior living clients. Adam Sherman led the way on both transactions. The first was arranged for a to-be-built assisted living/memory care community in Mason, Ohio being developed by Berengaria Development, the real estate arm of Marcus Investments. There will be 23 AL and 18 MC units, with BrightStar Senior Living, an affiliate of home health care provider BrightStar Care, leasing and operating the property upon completion. The project received a $6.9 million loan, with a five-year term, 25-year amortization and 24 months of interest only payments to accommodate the construction and... Read More »