PORTLAND, Ore. — Live Oak Bank has provided financing to Frontier Management and its affiliates in connection with the buy-out of a 50 percent interest in the company held by an institutional private equity investor.
Based in Portland and founded in 2000, Frontier is one of the largest senior living operators in the country. The company manages 80 communities featuring over 6,000 independent living, assisted living and memory care units across 12 states. Following the buyout, CEO and founder Greg Roderick is now the sole owner of Frontier.
Live Oak Bank provided a cash flow balance sheet loan to the company to support the buy-out. The amount of the financing was not disclosed.