MONTICELLOAM, LLC and its affiliates provided first lien debt to an experienced owner/operator for the acquisition of a couple of senior care facilities and the refinance of two others. All located in Kansas, the facilities total 282 beds. The acquisition included a skilled nursing facility and one skilled nursing/inpatient rehab facility, averaging around 45 years in age and combining for 156 beds in northeast Kansas. In the end, the borrower obtained $15.5 million in debt, amounting to about $55,000 per bed.
With the current acquisition, and others funded by Monticello in 2019, that brings the owner’s portfolio to 945 total licensed beds.
