MonticelloAM, a specialized lending platform for multifamily and seniors housing, recently closed an $18 million bridge loan for a senior housing community in Wisconsin. The financing was arranged by Karina Davydov, managing director at MonticelloAM.
The funds from the bridge loan were used to pay off existing debt for the borrower, who is a repeat client of MonticelloAM. This will position the property to qualify for HUD financing. The community consists of over 100 units offering assisted living and memory care services.
Davydov expressed gratitude for being able to strengthen their relationship with this client and provide them with a tailored solution that aligns with their goals.
Joseph Borenstein, head of MonticelloAM’s Healthcare Sales Desk also commented on the successful closing within a short timeframe and looks forward to continuing to offer innovative solutions to healthcare clients like this one.
