New York, NY, February 18, 2020—MONTICELLOAM, LLC and its affiliates, a specialized private real estate and asset-based lender, asset manager and servicer, announced it has provided $117 million in first lien debt financing for the acquisition of twelve skilled nursing properties and the refinance of one skilled nursing property totaling 1,357 beds in North Carolina and Kentucky. The transaction also includes a $10 million working capital loan to the operating companies of the properties provided by MONTICELLOAM, LLC’s asset-based lending group, Monticello Commercial Capital, LLC.
The transaction’s sponsor is an experienced owner and operator with a current portfolio of 8,752 licensed beds and has an established relationship with MONTICELLOAM, LLC. Prior to this deal, MONTICELLOAM, LLC financed the acquisition of a number of facilities during 2018 and 2019 for the sponsor.
About MONTICELLOAM, LLC
MONTICELLOAM, LLC offers floating rate bridge loans, 5, 7 and 10-year fixed rate loans, as well as working capital lines of credit. MONTICELLOAM, LLC 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.