MonticelloAM, a specialized lending platform for multifamily and seniors housing, recently finalized an $87.15 million bridge loan for 39 residential assisted living communities located in Fresno. The borrower’s identity has not been disclosed.
In continuation of their partnership with MonticelloAM, the borrower intends to use the funds from the bridge loan to refinance existing debt on these 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 dedication towards achieving clients’ objectives played a crucial role in convincing this operator to collaborate with them once again. He further added that they are committed towards providing tailored solutions to their clients in the seniors housing sector and positioning them for future success.
This news was originally published by Connect CRE.
