Monticello, a specialized private real estate and asset-based lender, asset manager and servicer, has provided $117 million in first lien debt financing for the acquisition of 12 skilled nursing properties, and the refinance of another with 1,357 beds in North Carolina and Kentucky.
The transaction also includes a $10 million working capital loan to the operating companies of the properties provided by Monticello’s asset-based lending group, Monticello Commercial Capital, LLC.
Monticello described the sponsor as an experienced owner and operator with a current portfolio of 8,752 licensed beds. Prior to this deal, Monticello financed the acquisition of a number of facilities during 2018 and 2019 for the sponsor.
