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NEW YORK CITY — MonticelloAM has provided $435 million in financing for a skilled nursing portfolio located in Maryland.
Totaling more than 1,890 beds, the portfolio comprises 14 facilities. The borrower owns and operates roughly 115 skilled nursing and assisted living properties throughout the Eastern U.S. and Sunbelt.
In addition to a $400 million acquisition loan, the financing includes a $35 million working capital line of credit.
“This closing came down to conviction in the sponsor and the assets,” says Jack Lally of New York City-based MonticelloAM. “They’ve done these complex deals before, the facilities are clinically strong and the markets hold up.”