New York, NY, January 15, 2025 – MONTICELLOAM, LLC (“MonticelloAM”), a specialized multifamily and seniors housing bridge lending platform, announced the closing of $73,200,000 in total bridge and working capital financing for a portfolio of seniors housing and healthcare properties across Ohio.
The $64,700,000 floating-rate senior bridge loan will be used by the sponsorship group, a repeat client of MonticelloAM, to recapitalize the existing debt on the portfolio, consisting of independent living, assisted living, and skilled nursing properties.
“The MonticelloAM bridge platform was built to meet the unique needs of our seniors housing and healthcare clients through our tailored financing solutions. We were pleased to work with a returning sponsorship group to refinance their portfolio, setting them up for future success,” stated Joseph Borenstein, head of the MonticelloAM Healthcare Sales Desk.
The $8,500,000 working capital facility will be used to cover the day-to-day operational needs of over 700 beds across the portfolio.
“We were grateful to be able to work with a borrower who is familiar with our expertise in asset-based financing for our healthcare clients. MonticelloAM is committed to providing the working capital flexibility needed for our borrowers to manage the daily expenses of operating the skilled nursing facilities,” added Kim Gordon, head of MonticelloAM’s Working Capital group.
About MONTICELLOAM, LLC
MONTICELLOAM, LLC (“MonticelloAM”) is a specialized multifamily and seniors housing lending platform with expertise in executing 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.