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Monticello Provides $40MM in Long-Term Financing for Assisted Living Program

November 19, 2019, 08:55 AM
Filed Under: Nursing Facilities

Monticello Asset Management, LLC  and its affiliates (“Monticello”), a specialized private real estate and asset-based lender, asset manager and servicer, announced it has provided $40 million in first lien debt financing for the refinance of an Assisted Living Program facility with 256 beds located in the Bronx, New York.

The borrower recently completed an extensive renovation of the facility including updates to the resident rooms, lobby, common areas and landscaping. Monticello provided the long-term financing for the borrower after it received full Assisted Living Program licensure in New York and has since stabilized the operations and performance of the facility.

Monticello offers floating rate term loans, 5, 7 and 10-year fixed rate term loans, as well as working capital lines of credit. Monticello provides financing for skilled nursing facilities, assisted living facilities, independent living facilities, affordable housing  and commercial real estate throughout the U.S. The firm was founded in October 2014 by Alan Litt, Thomas Lally and Jonathan Litt, who each have over 35 years of industry experience as lenders, investors, developers and owner operators.

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