7
LONG ISLAND, N.Y. — MonticelloAM has arranged $115 million in acquisition financing for a portfolio of seniors housing communities located in Long Island. The undisclosed borrower plans to use the proceeds from the senior bridge loan to both acquire the properties and expand the services offered across the communities.
The portfolio comprises 1,000 beds across multiple assisted living and memory care communities.
With two six-month extension options, the financing carries a 36-month initial term.