April 17, 2024 (original publish date*) – MONTICELLOAM, LLC (f/k/a Greystone Monticello LLC) has closed a $16,670,000 bridge loan for the acquisition of a seniors housing property in Illinois. The financing was originated by Karina Davydov, a Managing Director for MonticelloAM.
The property comprises independent living, assisted living and memory care units. The bridge financing closed carries a two-year term with two six-month extensions.
“We are excited to deepen our relationship with a top-notch regional operator as it expands its footprint in the Midwest market,” said Ms. Davydov. “MonticelloAM prides itself on its ability to provide custom solutions in the ever-evolving capital markets. Another successful execution by the team is a testament to our efficiency, sophistication, and commitment to our clients.”
“The MonticelloAM bridge platform is certainly ideal for seniors housing operators looking to transact during times of transition in the market, and we look to exceed their expectations over the long term,” added Joseph Borenstein, head of the healthcare sales desk at MonticelloAM.
About MONTICELLOAM, LLC
MONTICELLOAM, LLC and its affiliates (collectively, “MonticelloAM”) is a specialized multifamily and seniors housing lending platform with expertise in providing bridge loans and managing credit risk. MonticelloAM offers bridge, working capital and permanent financing options to properties across 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.
To learn more visit www.monticelloam.com.
*This article was originally published on April 17, 2024, when this transaction was completed by a joint-venture partnership between MonticelloAM and a third-party entity. The joint-venture partnership ended effective October 1, 2024.