Live Oak Provides $12.3M Refinancing for Watercrest Community in Tarpon Springs, Florida

TARPON SPRINGS, Fla. — Live Oak Bank has provided a $12.3 million refinancing for Watercrest Senior Living.

The bridge-to-permanent loan will refinance debt on Market Street East Lake, a seniors housing community in Tarpon Springs, a coastal suburb of Tampa.

East Lake is a 64-unit standalone memory care community that opened in March of 2018. The 45,960-square-foot property sits on 3.4 acres of land.

Lument advised Watercrest in the transaction.