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Monticello Provides $12.43MM in Financing for a 165-Bed Skilled Nursing Facility Portfolio

February 24, 2020, 09:00 AM
Filed Under: Nursing Facilities

MONTICELLOAM, LLC and its affiliates (Monticello), a specialized private real estate and asset-based lender, asset manager and servicer, announced it has provided $12.43 million in first lien debt financing for the acquisition of two skilled nursing properties totaling 165 beds in Tennessee and Kentucky. The transaction also includes a $1.5 million working capital loan to the operating companies of the properties provided by Monticello’s asset-based lending group, Monticello Commercial Capital, LLC.

The transaction’s sponsor is an experienced owner and operator with a current portfolio of 8,752 licensed beds and has an established relationship with Monticello. Prior to this deal, Monticello financed the acquisition of a number of facilities during 2018 and 2019 for the sponsor.

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