MONTICELLOAM, LLC (Monticello) made a splash at the start of 2021, announcing that it provided $368.0 million of first lien debt and $99.0 million of mezzanine financing to support the $507.0 million acquisition of a skilled nursing portfolio in the Southeast. Not a bad way to start the year.
Two other skilled nursing facilities received acquisition financing courtesy of Monticello, which provided $20.0 million in first lien debt. Also included in the financing was one unencumbered skilled nursing facility. Located in Kansas and Ohio, the three properties total 251 beds and average nearly fifty years in age.
An experienced owner/operator with a current portfolio of nearly 1,200 licensed beds was the borrower, having worked with Monticello before, including securing financing for the acquisition of a number of facilities in 2020. That’s the kind of relationships that have been key to getting acquisition debt this year, and it seems to be paying off for these two firms.