SPRINGBORO, Ohio — Live Oak Bank has provided a $3.6 million construction loan for a 24-bed memory care community in the Cincinnati suburb of Springboro.
A private owner-operator is building the community. The loan features a 26-year term and two years of interest-only payments.
Live Oak Bank started providing loans for seniors housing in 2017. The company hired Adam Sherman, formerly of Blueprint Healthcare Real Estate Advisors, to lead the efforts.