New York, NY, July 7, 2020 – MONTICELLOAM, LLC and its affiliates (“Monticello”), a specialized private real estate and asset-based lender, asset manager and servicer, announced it has provided $3 million working capital loan to the operating companies of two skilled nursing properties totaling 336 beds in Tennessee. The financing is provided by Monticello’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 Monticello. Prior to this deal, Monticello financed the sponsor’s acquisition of several facilities over the last several years in multiple transactions.
Monticello offers floating rate bridge loans, 5, 7 and 10-year fixed rate loans, and 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.