NEW YORK CITY — MonticelloAM has provided a $70 million senior bridge loan to finance a portfolio of skilled nursing facilities located across Massachusetts and Rhode Island. The portfolio comprises 700 beds across eight properties.
The $70 million bridge debt carries a 24-month initial term and will be used to refinance existing debt on the portfolio.
“Our team delivered comprehensive financing solutions across the capital stack, successfully restructuring a pre-existing loan,” says Joseph Borenstein, head of the healthcare bridge lending team at New York City-based MonticelloAM. “This transaction highlights our deep expertise in healthcare financing, and we look forward to building on this success while continuing our strong relationship with the client.”
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