Parkland Memory Care

Project Type

Senior Care Community Construction

Live Oak Bank financed the construction of Parkland Memory Care, a 56-suite/72-bed community, utilizing the SBA 504 loan program. The borrower is a closely-held private company who partnered with leading west coast regional operator, Seasons Management.

Parkland Memory Care opened its doors in September 2018. The brand new community offers specialized dementia and Alzheimer’s care in a safe, home-like environment featuring interior courtyards, high ceilings, an abundance of natural light and a variety of attractive floor plans.

This is an image of Live Oak Bank's senior care facility construction customer spotlight.
This is an image of Ray Poe, owner of Parkland Memory Care.

We asked owner, Ray Poe, to provide insight into Live Oak’s lending process

1. How did financing from Live Oak Bank allow you to overcome challenges to build the facility you envisioned?

Live Oak Bank was very fast and efficient, especially in their underwriting stage. The lending process was made very simple, and they understood the nuances of the industry.

2. How was working with Live Oak Bank different than other banks/lenders you have worked with?

Live Oak’s process was streamlined and user-friendly despite the paperwork requirements necessary in any borrowing process. They use an online portal, so you’re not dealing with multiple people sending information requests. Throughout each phase of the loan we were guided by the industry specialists from Live Oak’s Senior Care team.

3. What role does access to attractive debt capital play in attracting business owners and investors to the senior care sector?

There are a limited number of lenders in the assisted living space. Typically, the existing lenders out there want to fit everything into a box. Live Oak was willing to look at the underwriting of my project and understand my business. Banks like Live Oak allow us the flexibility to continue to grow our business.

If you are interested in financing your seniors housing construction project, Live Oak’s dedicated senior care lending team provides attractive rates and terms to our industry’s emerging owners, operators and developers nationwide.

Connect with a loan specialist to talk more about what you envision for your future.

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