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.
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.