Monarch Advisors Secures Revolving Line of Credit
Alec Blanc of Monarch Advisors closed a revolving line of credit for the operator of five skilled nursing facilities in southern Illinois, the purpose being to fund working capital costs across the portfolio. The borrower is based in Chicago and has operated the buildings for more than 10 years. They total about 600 beds and tended to be older, more rural facilities. Mr. Blanc secured a commitment from a national commercial finance company to provide a $2.75 million loan that allows advances up to 85% of the net collective value of accounts receivable. The non-recourse financing also came with a two-year, interest-only term and a floating rate. Read More »
Northland Networks Funds Louisville-Area Construction Project
Northland Networks announced that it provided construction debt for a seniors housing project in an Indiana suburb of Louisville, Kentucky. We learned a couple of weeks ago of Monarch Advisors’ involvement in the deal, with Alec Blanc sourcing the loan. Denton Floyd Real Estate Group is responsible for developing the community, which is one of several senior living projects it has planned in the Louisville area. This community will feature 115 assisted living and 16 memory care units, all private pay. Rents are expected to range from $3,970 per month for one-bedroom units, $5,000 per month for two-bedroom units, and $5,138 per month for memory care. Vitality Senior Services, an... Read More »
Monarch Advisors Finances Kansas SNF Acquisition
A local owner/operator purchased a small skilled nursing facility in rural Kansas with an acquisition loan in hand, secured by Alec Blanc of Monarch Advisors. An active, national SBA lender provided the financing, which totaled $721,500 and came with a 25-year, fully amortizing term. It came with an interest rate of Prime + 2.25%, and there was also a five-year declining prepayment penalty. Built in the 1950s, but well maintained, the 45-bed facility was around 86% occupied by the end of 2020. Given where national average census is for the industry, most operators would happily take that. Including working capital and closing costs, the buyer expects to spend around $800,000, or... Read More »
Monarch Advisors Finances Indiana Senior Living Development
Alec Blanc of Monarch Advisors, the capital advisory affiliate of Senior Living Investment Brokerage, has closed construction financing for the development of a 130-unit senior living community in Jeffersonville, Indiana (Louisville MSA). Denton Floyd Real Estate Group broke ground on the project in December and has brought on Vitality Senior Services to manage it upon completion. They will provide a mix of independent living, assisted living and memory care services for only private-pay residents. Rents are expected to range from $3,970 per month for one-bedroom units, $5,000 per month for two-bedroom units, and $5,138 per month for memory... Read More »Schedule a demo
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