MONTICELLOAM, LLC (“MonticelloAM”), a specialized multifamily and seniors housing bridge lending platform, announced the financing of a $115,000,000 senior bridge loan for a portfolio of assisted living and memory care communities in Long Island, New York.
A repeat MonticelloAM client, the sponsorship group plans to utilize proceeds from the $115 million financing to acquire the communities and plans to improve operations by expanding the services offered across 1,000 licensed beds.
The transaction carries a 36-month initial term with two six-month extension options.
“This unique transaction highlights the strength of MonticelloAM’s bridge platform in structuring financing solutions for our seniors housing clients. We are grateful for the opportunity to support a valued client in achieving their long-term success,” said Joseph Borenstein, head of the MonticelloAM Healthcare Sales Desk.
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