TENNESSEE and KENTUCKY — Monticello has provided $12.4 million in first lien debt financing for the acquisition of two skilled nursing properties totaling 165 beds in Tennessee and Kentucky. The specific names and locations of the properties were not disclosed.
The transaction also includes a $1.5 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. Prior to this deal, Monticello financed the acquisition of a number of facilities during 2018 and 2019 for the company.