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.

MonticelloAM, a specialized multifamily and seniors housing bridge lending platform, closed an $87,150,000 bridge loan for 39 residential assisted living communities in Fresno. The borrower was not disclosed.

Expanding its relationship with MonticelloAM, the borrower plans to use the bridge loan proceeds to refinance the existing debt on the properties with the intent to secure long-term financing. 

“MonticelloAM’s deep knowledge of structuring seniors housing loans, paired with our commitment to our client’s goals, were the key drivers in this operator’s decision to partner with us on another transaction,” said Joseph Borenstein, head of the MonticelloAM healthcare sales desk. “We look forward to providing our seniors housing clients tailored solutions, positioning them for future success.”

MonticelloAM, a specialized multifamily and seniors housing bridge lending platform, closed $18 million in bridge financing for a seniors housing community in Wisconsin. The financing originated with Karina Davydov, managing director at MonticelloAM.

Proceeds from the $18 million bridge loan were used to refinance the outstanding debt for the borrower, a repeat MonticelloAM client, to position the property for HUD financing. The property is comprised of over 100 assisted living and memory care units.

“We are thankful for the opportunity to build on a pre-existing relationship with the client and strategically tailor a bridge financing solution that helps them achieve their goals,” said Davydov.

“Our team was proud to close the financing in a short time frame and further strengthen our relationship with the sponsorship. We look forward to continuing to provide our healthcare clients with creative and reliable solutions,” adds Joseph Borenstein, head of the MonticelloAM Healthcare Sales Desk.