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Monticello Provides $40MM in Financing for Ohio Portfolio

July 20, 2018, 07:09 AM
Filed Under: Real Estate

Monticello Asset Management, LLC announced that two of Monticello’s investment vehicles originated $36 million in first lien debt financing to Maui Sunset, LLC and a $4 million working capital loan to the operating companies of the facilities.

The Mortgagor is using the funds to purchase a portfolio in Ohio that consists of 724 beds. The Mortgagor anticipates receiving a HUD guaranteed loan within the Bridge-To-HUD term. The Borrower’s Principals have over 30 years of combined experience owning and operating similar facilities.

The portfolio is licensed for 724 beds, 46 of which are secured dementia units. The properties comprise of an average total land area of 3.67 acres and an average gross building area greater than 70,000 square feet. Services provided include 24-hour skilled nursing care as well as ancillary services, including physical, occupational and speech therapies.


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