In one of the largest financings the firm has ever completed, MONTICELLOAM, LLC, along with firm affiliates, funded $470.5 million in total bridge and working capital financing for a sixteen-facility skilled nursing portfolio. The sponsor group, which owns and operates over 200 skilled nursing facilities across the country, used the $455.5 million bridge financing to refinance existing debt on the Virginia assets. In addition, MONTICELLOAM arranged a $15.0 million working capital line of credit for the borrower to manage the daily operational needs of over 2,000 licensed beds.
In another financing, MONTICELLOAM and firm affiliates provided a $28.5 million senior bridge loan for two Midwest seniors housing communities. The financing was originated by Karina Davydov.
The sponsor, a Midwest-based operator with a portfolio of over 40 seniors housing and healthcare properties and a returning client, will use the loan proceeds to refinance two assisted living/memory care communities in Wisconsin and Ohio with over 200 units.
