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MonticelloAM Closes $18M Bridge Loan for WI Senior Housing
MonticelloAM, a specialized multifamily and seniors housing bridge lending platform, closed $18 million in bridge financing for a seniors housing community in Wisconsin. The financing originated with Karina Davydov, managing director at MonticelloAM.
Proceeds from the $18 million bridge loan were used to refinance the outstanding debt for the borrower, a repeat MonticelloAM client, to position the property for HUD financing. The property is comprised of over 100 assisted living and memory care units.
“We are thankful for the opportunity to build on a pre-existing relationship with the client and strategically tailor a bridge financing solution that helps them achieve their goals,” said Davydov.
“Our team was proud to close the financing in a short time frame and further strengthen our relationship with the sponsorship. We look forward to continuing to provide our healthcare clients with creative and reliable solutions,” adds Joseph Borenstein, head of the MonticelloAM Healthcare Sales Desk.
