MONTICELLOAM, a seniors housing and multifamily bridge lending platform, along with firm affiliates, provided $195.7 million in bridge, mezzanine and working capital financing to a skilled nursing portfolio throughout Virginia and Indiana.
The Sponsor Group, a repeat MONTICELLOAM client, will use the $184.7 million in bridge and mezzanine loans for the refinancing of three skilled nursing communities in Virginia and the acquisition of four skilled nursing communities in Indiana.
“Skilled nursing operators who are expanding their portfolio need a capital partner that can keep pace with their goals and bring genuine depth to every transaction. Our platform was designed to do exactly that, combining lending expertise, structuring flexibility, and a true understanding of the healthcare real estate landscape,” Joseph Borenstein, head of the MONTICELLOAM Healthcare Bridge Lending team, said.
An $11 million working capital line of credit will be used by the Sponsor to support the day-to-day expenses of the 900-plus-bed skilled nursing portfolio.
“We approach every transaction with the goal of providing operators with the stability they need to deliver quality care. This financing gives them room to handle today’s challenges while staying ready for what’s ahead,” Matthew Lark, head of healthcare underwriting, said.
