NEW YORK CITY — Multifamily and seniors housing bridge lending platform MONTICELLOAM LLC (MonticelloAM) has provided $87 million in bridge and working capital financing for a portfolio of skilled nursing facilities located in Florida. Proceeds from the loan, which features a 24-month term and two six-month extensions, were used to refinance existing debt on the properties. The portfolio comprises 450 skilled nursing beds across four properties. A $7 million working capital revolver will fund day-to-day operational expenses for the facilities. The borrower was not disclosed.
MANALAPAN TOWNSHIP, N.J. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a Class A seniors housing facility located in Manalapan Township, roughly 45 miles outside New York City. Delivered in 2022, the community includes 60 residences and features both assisted living and memory care units. Ben Firestone, Steve Thomes and Kory Buzin of Blueprint represented the New Jersey-based seller in the transaction. Springpoint, the tenant in place at the property, acquired the community for an undisclosed price. According to Blueprint, the facility experienced occupancy issues during its first …
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