Alec Blanc of Monarch Advisors successfully closed a new loan to refinance a portfolio of three skilled nursing facilities in Wisconsin. The owner and operator of the properties engaged Monarch to source $12.6 million of senior debt for the transaction after its relationship with the incumbent lender deteriorated.
So, Monarch secured a commitment from a relatively new debt fund lender, consisting of a $10.3 million loan with a two-year term loan and one-year extension option and a $2.25 million revolving line of credit. The interest rate was around 12%.
