OakNorth, the digital bank for entrepreneurs, by entrepreneurs, together with financing platform Bravo Property Trust, has provided a $42m loan to refinance existing debt and support the financing costs of two Class A assisted living and memory care facilities in Taylor, Michigan and Chesapeake, Virginia. The two purpose-built communities together provide 177 licensed beds across the Detroit and Virginia Beach–Norfolk metropolitan areas.
The Taylor, Michigan community, which opened in 2023, comprises 81 licensed beds and offers private suites with kitchenettes and en-suite bathrooms, alongside communal dining areas and landscaped courtyards. The Chesapeake, Virginia facility, newly developed and opened in late 2025, comprises 96 licensed beds and features private suites with modern amenities, communal lounges, dining areas and outdoor courtyards. Both assets respond to rising demand for specialist senior care, with the number of Americans living with Alzheimer’s projected to grow substantially over the coming decades.
About Bravo Property Trust: Bravo Property Trust, OakNorth’s financing partner on the transaction, is a leading privately held financing platform with a national footprint that, together with its affiliates, has closed over $2bn in financing to date. The sponsor that owns and operates the two communities is not named in the announcement.