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NEW YORK CITY — MonticelloAM has provided a $28 million senior bridge loan to finance two seniors housing properties located in Wisconsin.
Karina Davydov of New York City-based MonticelloAM originated the transaction on behalf of the undisclosed borrower, a Midwest-based operator. The borrower plans to use the floating-rate loan, which carries a 24-month initial term, to refinance existing debt.
Together the assisted living communities, which are located near Madison and Milwaukee, comprise 170 beds.