NEW YORK CITY — MonticelloAM, with firm affiliates, has provided $195.7 million in financing for a skilled nursing portfolio located in Virginia and Indiana.
The undisclosed borrower will used $184.7 million in bridge and mezzanine loans to refinance three skilled nursing facilities in Virginia and acquire four skilled nursing properties in Indiana. Together, the portfolio totals more than 900 beds.
Additionally, the financing includes an $11 million working capital line of credit, which will support the day-to-day expenses of the facilities.
“Skilled nursing operators who are expanding their portfolio need a capital partner that can keep pace with their goals and bring genuine depth to every transaction,” says Joseph Borenstein, head of the healthcare bridge lending team at New York City-based MonticelloAM.