Month: November 2020

New York, NY, November 25, 2020 – MONTICELLOAM, LLC and its affiliates (“Monticello”), a specialized private real estate and asset-based lender, asset manager and servicer, announced it has provided $42.08 million in first lien debt financing for the acquisition of one skilled nursing facility located in Virginia. The transaction also includes a $3.50 million working capital loan to the operating companies of the properties provided by Monticello’s asset-based lending group, Monticello Commercial Capital, LLC.

The transaction’s sponsor is an experienced owner and operator and has an established relationship with Monticello. Prior to this deal, Monticello financed the acquisition of a number of facilities in 2020 for the sponsor.

About Monticello

Monticello offers floating rate bridge loans, 5, 7 and 10-year fixed rate loans, as well as working capital lines of credit. Monticello provides financing for healthcare facilities and commercial real estate throughout the U.S. The firm was founded in October 2014 by Alan Litt, Thomas Lally and Jonathan Litt, who each have over 35 years of industry experience as lenders, investors, developers and owner operators.

The following is part one in a series on ABLadvisor.com in which key thought leaders at MONTICELLOAM, LLC (“Monticello”) discuss their stance on the nursing home industry. Please refer to important disclosures at the end of this article on the ABLadvisor.com website.

In a few short months, a novel coronavirus ignited a global pandemic affecting almost every aspect of daily life. With no clear indication of when, how, or if things will ever go back to the way they were, the capital markets have experienced extreme volatility as people try to assess value in the current environment.

With that as a backdrop, Monticello hosted a company-wide roundtable in which the concept of how one assesses relative value was discussed within the context of skilled nursing.

We’re bullish on the sector because people are going to need skilled nursing, but we’re also disciplined enough to know when to put our toe in the water,” Alan Litt, co-founder of Monticello, replied when asked how investors should view skilled nursing in light of the impacts of COVID-19 and the negative portrayals of the industry in the media.

Mr. Litt went on to explain that while some rehabilitation could be done at home rather than in a medical facility as has been reported in the news, depending on the acuity of a person’s ailments or injuries, skilled nursing might be a person’s only option.

Continue reading on ABLadvisor.com