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Monticello Provides $37MM in Financing to OH Nursing Facility

June 27, 2017, 07:50 AM
Filed Under: Nusring Facilities

Monticello Asset Management, LLC announced that one of Monticello’s investment vehicles originated $37 million in first lien debt financing to Clermont Nursing Realty, LLC.  The Mortgagor is using the funds to refinance a single asset that holds 136 beds. The property is located in Ohio. The Mortgagor anticipates receiving a Department of Housing and Urban Development (HUD) guaranteed loan within the Bridge-To-HUD term.

The Borrower’s Principals have over 40 years of combined experience owning and operating similar facilities. The facility was built in 1966. The facility’s 136 beds includes a 15-bed, secure, behavioral unit and a 27- bed, secure, dementia unit. The property has a total land area of 10.51 acres and the building itself consists of 64,477 square-feet in total. Services provided include 24-hour skilled nursing care as well as ancillary services, including physical, occupational and speech therapies.

Monticello is a Registered Investment Adviser that, through a series of affiliated investment vehicles, provides Bridge-To-HUD Loans to skilled nursing, assisted living and adult home facilities located within carefully selected areas throughout the United States.


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