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NEW YORK CITY — MonticelloAM, a New York City-based seniors housing and multifamily bridge lending platform, has, with firm affiliates, provided $80 million in financing for a skilled nursing portfolio in Pennsylvania.
The portfolio includes four facilities totaling more than 520 licensed beds.
In addition to a $75 million bridge loan, the financing includes a $5 million working capital line of credit. Loan proceeds will be used by the borrower to acquire the facilities, fund the interest reserve and complete renovations at the properties. The financing features a 36-month initial term and two six-month extensions.