NORTH CAROLINA and KENTUCKY — Monticello has provided $117 million in first lien debt financing for the acquisition of 12 skilled nursing properties and the refinance of one other in North Carolina and Kentucky.
The skilled nursing portfolio totals 1,357 beds. The names and specific locations of the properties were not disclosed.
The transaction also includes a $10 million working capital loan to the operating companies of the properties provided by Monticello’s asset-based lending group, Monticello Commercial Capital LLC.
The borrower is an experienced owner and operator with a current portfolio of 8,752 licensed beds and has an established relationship with Monticello. Prior to this deal, Monticello financed the acquisition of a number of facilities during 2018 and 2019 for the borrower.