Industry Veterans Launch Skilled Nursing Investment Advisory Firm Monticello Asset Management

by Jeff Shaw

NEW YORK CITY — Thomas Lally, Alan Litt and Jonathan Litt have launched Monticello Asset Management, an investment advisory firm focused on skilled nursing operators. The new company is based in Manhattan.

The firm will originate and service bridge loans for skilled nursing facilities throughout the United States. The loans will typically be for a two- to three-year period in anticipation of permanent financing through HUD.

“The principals have experience as investors, lenders, developers, owners, managers and workout specialists in skilled nursing facilities,” says Lally. “Couple that with senior financing from participant banks and underwriting assistance from our HUD servicing partners, the principals feel they’ve built a platform for fine returns with minimal downside.”

Lally is founder and managing partner of the company. He was most recently a managing director and trader of mortgage backed securities at Ladder Capital. Prior to Ladder Capital he was a managing director in the multifamily and commercial origination and trading efforts at First Boston, Daiwa Securities, Greystone, UBS and Dillon Read Capital Management. Lally holds a bachelor’s degree from the College of the Holy Cross.

Alan Litt is a founder and managing partner with Monticello Asset Management. He brings over 30 years of real estate finance, development and construction experience. Litt has spent the last 15 years as president and then chairman of The Kohl Companies (Kohl Solutions and Kohl Construction Group) developing, owning and operating skilled nursing facilities and multifamily housing. This experience included market-rate and affordable housing financed through low income housing and historic tax credits. He received a bachelor’s degree in finance from New York University.

Jonathan Litt is a founder and managing partner of Monticello Asset Management. He has served as the CEO for Kohl Construction Group, which provides construction and property management services in the New York metropolitan area. Lenders including GMAC Commercial Mortgage, Boiling Springs Savings Bank, M&T Bank and others have retained Litt as a special servicer, manager and/or advisor for assets the banks had foreclosed upon. These asset classes include skilled nursing, assisted living, independent living, mixed-use, retail, multifamily, office and warehouse. Litt received a bachelor’s degree from Ithaca College. 

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