MonticelloAM, a specialized lending platform for multifamily and seniors housing, along with its affiliates, has successfully closed $59.25 million in financing for a portfolio of skilled nursing facilities located in Illinois.
The loan was originated by Karina Davydov, who serves as Managing Director at Monticello. It carries a two-year term with the option to extend for an additional six months twice. “We are pleased to have provided comprehensive financing solutions and look forward to building a strong relationship with this growing regional operator,” said Davydov.
The funds from the $52.25 million bridge loan were used towards acquiring three skilled nursing facilities while the remaining $7 million from the working capital revolver will support day-to-day operations across all properties which collectively hold over 700 licensed beds.
“We established our bridge lending platform at MonticelloAM specifically tailored to meet operators’ unique needs, particularly within healthcare,” commented Joseph Borenstein, head of MonticelloAM’s Healthcare Sales Desk.
This successful transaction further solidifies MonticelloAM’s commitment towards providing customized financial solutions that cater to various industries such as healthcare within their diverse portfolio offerings.
