With $10.38 million in financing secured by two of Monticello Asset Management’s investment vehicles, an experienced borrower acquired a 139-bed skilled nursing facility in Tennessee. The target consists of a 50-bed short-term rehabilitation unit in addition to an 81-bed long-term care unit on approximately 10.43 acres. Ancillary services like physical, occupational and speech therapy are also provided at the facility.
The borrower, Madison Due West Property, LLC, obtained $8.88 million in first lien debt, while the operating company received a $1.5 million working capital loan.
