New York, NY, March 30, 2020 – MONTICELLOAM, LLC and its affiliates (“MONTICELLOAM”), a specialized private real estate and asset-based lender, asset manager and servicer, announced it has provided $97.2 million in first lien debt financing for the acquisition of five skilled nursing properties totaling 856 beds in Virginia. The transaction also includes a $8 million working capital loan to the operating companies of the properties provided by MONTICELLOAM’s asset-based lending group, Monticello Commercial Capital, LLC.
The transaction’s sponsor is an experienced owner and operator with a current portfolio of 1,155 licensed beds and has an established relationship with MONTICELLOAM. Prior to this deal, MONTICELLOAM financed the acquisition of a number of facilities during 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.