MONTICELLOAM, LLC, a specialized multifamily and seniors housing bridge lending platform, and its affiliates announced the closing of $59.25 million in bridge and working capital financing for a portfolio of skilled nursing facilities in the Chicago area of Illinois. Karina Davydov originated the loan, which carries a two-year term with two six-month extensions.
A growing regional operator was the borrower and financed its acquisition of three skilled nursing facilities with more than 700 licensed beds. Proceeds from the $52.25 million bridge loan were used for the acquisition, while the $7.0 million working capital revolver will be used to support the day-to-day operations across the properties.
