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Monticello Provides $37.8MM in Debt Financing for NJ-Based Skilled Nursing Portfolio

February 11, 2019, 07:43 AM
Filed Under: Nursing Facilities

Monticello Asset Management, LLC, a specialized private real estate and asset-based lender, servicer and fund manager, announced it has provided $37.8 million in first lien debt financing for the acquisition of two skilled nursing properties totaling 328 beds across New Jersey. 

The transaction also includes a $3 million working capital loan to the operating companies of the properties provided by Monticello’s asset-based lending group Monticello Commercial Capital. The Borrower anticipates receiving a HUD guaranteed loan.

The Borrower is an experienced owner and operator with a current portfolio of over 2,000 licensed beds, and has an established relationship with Monticello prior to this deal, having received a mortgage loan to acquire a number of facilities in 2018.

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