MONTICELLOAM closed $87.0 million in total bridge and working capital financing for a portfolio of four skilled nursing facilities totaling 450 beds in Florida. The $80 million bridge loan carries a two-year term, with two six-month extensions, and will be used to refinance the existing debt on the four assets. The $7.0 million working capital revolver will be used to manage day-to-day operational expenses across the portfolio.
Proceeds from the $80,000,000 bridge loan were used to refinance the existing debt on four skilled nursing facilities. The loan carries a 24-month term with two six-month extensions for the borrower.
