NEW JERSEY — Monticello Asset Management LLC has provided $37.8 million in first lien debt financing for the acquisition of two skilled nursing properties totaling 328 beds in New Jersey.
Skilled Nursing
While the existing stock of skilled nursing facilities is mostly outdated, only a handful of investors and providers are putting up new buildings. By Jane Adler While the construction of new assisted living, memory care and to a lesser extent independent living projects has been on a tear over the last several years, another part of the seniors housing industry has lagged far behind. Groundbreakings are only occasional events for new skilled nursing projects even as the number of facilities declines and many of the remaining ones are functionally obsolete. …