Updated May 21, 2025
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
About this deal
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.
On the Map
$25,000,000
Senior Housing
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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