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NEW YORK — Monticello has provided $46.8 million in first lien debt financing to refinance one skilled nursing property and two adult day care properties totaling 407 beds in New York.
The transaction also includes a $3 million working capital loan to the operator 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 4,570 licensed beds and has an established relationship with Monticello. Prior to this deal, Monticello financed the acquisition of a number of facilities over the last several years in multiple transactions.
The specific names and locations of the properties were not disclosed.