New York, NY, December 13, 2024 – MONTICELLOAM, LLC (“MonticelloAM”), a specialized multifamily and seniors housing bridge lending platform, successfully closed an $87,150,000 bridge loan for 39 residential assisted living communities in Fresno, California.
Expanding their relationship with MonticelloAM, the borrower plans to use the bridge loan proceeds to refinance the existing debt on the properties with the intent to secure long-term financing.
“MonticelloAM’s deep knowledge of structuring seniors housing loans, paired with our commitment to our client’s goals, were the key drivers in this operator’s decision to partner with us on another transaction. We look forward to providing our seniors housing clients tailored solutions, positioning them for future 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.
This transaction was originated by an affiliate of MonticelloAM, formerly known as Greystone Monticello LLC.