NEW ROCHELLE, N.Y. — The Masonic Hall and Asylum Fund has acquired the former College of New Rochelle campus just north of the Bronx for $32 million, according to reports from The Journal News. The college declared bankruptcy in September, and sister school Mercy College absorbed all the students, faculty and programs. Although specific plans for the future of the property were not disclosed, Masonic Hall and Asylum Fund operates Masonic Care Community, a seniors housing community in Utica. The group also runs a summer camp and DeWint House, George …
New York
NEW YORK CITY — Monticello Asset Management LLC has provided $40 million in first lien debt financing for an assisted living facility in the Bronx. The property features a total of 256 beds. The borrower and name of the facility were not disclosed. The loan will refinance existing debt. The borrower recently completed an extensive renovation of the facility including updates to the resident rooms, lobby, common areas and landscaping. Monticello provided the long-term financing for the borrower after it received full licensure in New York and has since stabilized …