MonticelloAM Closes $73M in Financing for OH Skilled Nursing Portfolio
MonticelloAM, a specialized multifamily and seniors housing bridge lending platform, has closed $73.2 million in total bridge and working capital financing for a portfolio of seniors housing and healthcare properties across Ohio.
The $64,700,000 floating-rate senior bridge loan will be used by the sponsorship group, a repeat client of MonticelloAM, to recapitalize the existing debt on the portfolio, consisting of independent living, assisted living, and skilled nursing properties. The $8.5 million working capital facility will be used to cover the day-to-day operational needs of over 700 beds across the portfolio.
“The MonticelloAM bridge platform was built to meet the unique needs of our seniors housing and healthcare clients through our tailored financing solutions. We were pleased to work with a returning sponsorship group to refinance their portfolio, setting them up for future success,” said Joseph Borenstein, head of the MonticelloAM Healthcare Sales Desk.
