MonticelloAM and its affiliates have provided a total of $144 million in financing to support a six-community skilled nursing portfolio located in Washington. The package combines a bridge loan with a working capital facility tailored to the portfolio, which consists of more than 720 licensed beds across the six communities.
The financing structure is anchored by a $140 million bridge loan, complemented by a $4 million working capital line of credit. The facilities carry an initial term of 36 months, supporting the sponsor as it moves through the early stages of ownership and integration of the assets.
The sponsor behind the transaction is described as a returning MonticelloAM healthcare client with a regional West Coast footprint encompassing more than fifteen communities. Proceeds from the bridge loan were used for the acquisition of the six skilled nursing facilities in the portfolio, extending the sponsor’s existing platform in the skilled nursing sector.
In commenting on the transaction, Joseph Borenstein, Head of the MonticelloAM Healthcare Bridge Lending team, noted that deals of this type reflect the strength of the firm’s relationships in the skilled nursing space. His remarks underscore the importance of repeat borrower relationships in executing financing for specialized healthcare assets.
Alongside the bridge loan, MonticelloAM structured the $4 million working capital line of credit to align with the operational needs of an expanding portfolio. Kim Gordon, Head of the MonticelloAM Working Capital group, emphasized that access to working capital can be a key driver of operational stability and long-term growth for healthcare operators, and highlighted that the credit line was tailored to meet the specific demands of the sponsor’s portfolio.
The latest financing follows another transaction between MonticelloAM affiliates and the same sponsor completed just a week earlier, in which an investment totaling $46 million was closed. Taken together, the recent closings illustrate the sponsor’s ongoing expansion and MonticelloAM’s continued activity in skilled nursing finance, particularly for repeat clients operating multiple communities within the region.
