Following up on several other acquisition financings closed on behalf of a previous borrower in the past three years, Monticello Asset Management funded the purchase of two more skilled nursing facilities in Tennessee. Totaling $16 million in first lien debt that Monticello expects to refinance through HUD in the coming years, the transaction was arranged for an experienced owner/operator with a current portfolio of more than 3,700 licensed beds.
This latest acquisition totaled 303 beds across the two Tennessee locations. Monticello’s asset-based lending group, Monticello Commercial Capital, also provided a $3 million working capital loan to the operating companies.
