MonticelloAM, a specialized lending platform for multifamily and seniors housing, recently announced the successful closure of an $87.15 million bridge loan for 39 residential assisted living communities located in Fresno. The borrower’s identity was not disclosed.
In collaboration with MonticelloAM, the borrower plans to utilize the proceeds from this bridge loan to refinance existing debt on their properties and secure long-term financing.
According to Joseph Borenstein, head of MonticelloAM’s healthcare sales desk, their extensive expertise in structuring loans for seniors housing coupled with their commitment towards achieving client objectives were instrumental factors that led the operator to partner with them once again. He further added that they are dedicated towards providing tailored solutions to clients in this sector and positioning them for future success.
This announcement was first reported by Connect CRE.
