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Monticello Provides $46.8MM in Financing for 407-Bed Skilled Nursing and Adult Day Care Facility Portfolio

February 27, 2020, 09:05 AM
Filed Under: Nursing Facilities

MONTICELLOAM, LLC and its affiliates, a specialized private real estate and asset-based lender, asset manager and servicer, announced it has provided $46.8 million in first lien debt financing for the refinance of one Skilled Nursing property and two Adult Day Care properties totaling 407 beds in New York. The transaction also includes a $3 million working capital loan to the Operating Company 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 4,570 licensed beds and has an established relationship with Monticello. Prior to this deal, Monticello financed the sponsor’s acquisition of a number of facilities over the last several years in multiple transactions.

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