Live Oak Bank Provides $25M Bridge Loan To Harbert Seniors Housing Fund I LP For Senior Housing
10459 Church Street
$25,000,000
Units
97
Asset Type
Senior Housing
Closing
May 20, 2025
AI
The property asset is a 97-unit senior housing community located at 10459 Church Street in Rancho Cucamonga. The transaction involved a bridge loan with a total loan amount of $25,000,000 allocated for a senior living community that encompasses independent, assisted living, and memory care units.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $25,000,000
- Lender: Live Oak Bank
- Landlord: Raymond J. Harbert - Harbert Seniors Housing Fund I LP
- Loan Type: Bridge
- Loan Terms: three-year initial term, 36 months of interest-only payments
- Future Earnout Proceeds: up to $2.8M
The deal was facilitated by Live Oak Bank, which provided the bridge-to-sale loan to Harbert Seniors Housing Fund I LP, represented by Raymond J. Harbert. This financing structure is designed to support the operational needs and potential future development of the senior living community.
Players
Rancho Cucamonga Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93