New York, NY, February 12, 2025 – MONTICELLOAM, LLC (“MonticelloAM”), a specialized multifamily and seniors housing bridge lending platform, announced the financing of a $115,000,000 senior bridge loan for a portfolio of assisted living and memory care communities in Long Island, New York.
A repeat MonticelloAM client, the sponsorship group plans to utilize proceeds from the $115 million financing to acquire the communities and plans to improve operations by expanding the services offered across 1,000 licensed beds.
The transaction carries a 36-month initial term with two six-month extension options.
“This unique transaction highlights the strength of MonticelloAM’s bridge platform in structuring financing solutions for our seniors housing clients. We are grateful for the opportunity to support a valued client in achieving their long-term success,” said Joseph Borenstein, head of the MonticelloAM Healthcare Sales Desk.
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.