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LAWRENCEVILLE, Ga. — Live Oak Bank has arranged a $13 million loan to refinance debt on Mansions at Gwinnett Park, a seniors housing community in Lawrenceville, a northeastern suburb of Atlanta.
The property, which opened in 2019, features 94 units of assisted living and memory care. The borrower is Mansions Senior Living, an Oklahoma-based operator.
The property was still leasing up when the COVID-19 pandemic began, and the loan will allow additional time for the property to complete its lease-up, according to Live Oak.