MONTICELLOAM, a specialized multifamily and seniors housing bridge lending platform, announced the initial funding of $152,000,000 in total bridge and working capital financing for the acquisition of nine skilled nursing facilities across North Carolina. 
  
The $142,000,000 bridge debt carries a 36-month initial term with two extension options. Proceeds will support the acquisition of the skilled nursing portfolio, which comprises nearly 1,100 licensed beds. 
   
“The MONTICELLOAM team did an outstanding job providing comprehensive financing across the capital stack for a valued, repeat client. We’re excited to strengthen our partnership as they leverage this financing to execute their business plan,” remarked Joseph Borenstein, head of the MONTICELLOAM Healthcare Bridge Lending team. 
 
The Sponsor, a returning healthcare client with operating experience in the Southeast, will utilize a $10,000,000 working capital line of credit to manage the daily operational needs of the facilities. 
 
“We take pride in partnering with skilled nursing operators to address the complexities of healthcare operations. This $10 million line of credit demonstrates our commitment to supporting clients with the resources they need to strengthen their facilities and navigate an evolving landscape,” said Kim Gordon, head of the MONTICELLOAM Working Capital group.