MONTICELLOAM announced the closing of $39 million in total bridge and working capital financing for two New Jersey skilled nursing facilities. The sponsorship group, a repeat MONTICELLOAM client with extensive experience in the skilled nursing industry, will use the $38 million floating-rate senior bridge loan to consolidate previous loans and reduce its cost of capital. The $1 million working capital facility will be used by the sponsorship to cover the day-to-day needs of over 300 skilled nursing beds. MONTICELLOAM closed the transaction in 45 days.
New Jersey SNFs Secure Financing
