MonticelloAM Facilitates $73.2M Financing Deal for Ohio Healthcare Properties
Deal News | Jan 15, 2025 | EIN
MonticelloAM, a bridge lending platform specializing in multifamily and seniors housing, has concluded a $73.2 million financing deal for a portfolio of seniors housing and healthcare properties in Ohio. The bulk of the financing, a $64.7 million senior bridge loan, is designated for recapitalizing the existing debt of the properties, which include independent living, assisted living, and skilled nursing facilities. Additionally, an $8.5 million working capital facility will support operational needs for over 700 beds. Joseph Borenstein and Kim Gordon from MonticelloAM highlighted the importance of this transaction in providing financial flexibility and setting up their returning client for future success.
Sectors
- Healthcare
- Real Estate Finance
Geography
- United States – MonticelloAM is based in New York, and the healthcare properties involved in the financing are located in Ohio.
- Ohio – The portfolio of seniors housing and healthcare properties financed through this deal is located in Ohio.
Industry
- Healthcare – The article involves financing for healthcare and skilled nursing properties.
- Real Estate Finance – The financing deal is related to the bridge lending for real estate, specifically seniors housing facilities.
Financials
- $73,200,000 – Total financing provided by MonticelloAM, including both bridge loan and working capital.
- $64,700,000 – Floating-rate senior bridge loan for debt recapitalization.
- $8,500,000 – Working capital facility for operational needs.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MonticelloAM, LLC | Financier/Service provider | Company | A specialized lending platform focusing on multifamily and seniors housing. |
| Joseph Borenstein | Head of MonticelloAM Healthcare Sales Desk | Person | Involved in overseeing the transaction. |
| Kim Gordon | Head of MonticelloAMs Working Capital group | Person | Responsible for the working capital aspects of the financing. |
| Sponsorship group | Borrower | Company | A repeat client of MonticelloAM, utilizing the financing to recapitalize debt and support operations. |