MonticelloAM, a specialized lending platform for multifamily and seniors housing, has successfully closed $73.2 million in bridge and working capital financing for a portfolio of healthcare properties located throughout Ohio.
The loan package includes a floating-rate senior bridge loan worth $64.7 million, which will be used by the borrower – an existing client of MonticelloAM – to refinance their current debt on the portfolio. The properties within the portfolio consist of independent living, assisted living, and skilled nursing facilities. Additionally, there is also an $8.5 million working capital facility included in the financing package to cover operational expenses for over 700 beds across all properties.
Joseph Borenstein, head of MonticelloAM’s Healthcare Sales Desk stated that their bridge lending platform was specifically designed to cater to the unique needs of clients in seniors housing and healthcare industries through customized financial solutions. He also expressed his satisfaction with being able to work with returning clients on refinancing their portfolio as it sets them up for future success.
Overall this transaction showcases MonticelloAM’s expertise in providing tailored financing options for its clients within these specialized sectors.
