MonticelloAM Secures $46M for Washington Skilled Nursing Portfolio

MonticelloAM, along with firm affiliates, provided $46 million in combined bridge and working capital financing to a skilled nursing portfolio in Washington.

The portfolio consists of four stand-alone skilled nursing facilities and one skilled nursing and independent living community. The transaction includes a $40 million bridge loan and a $6 million working capital line of credit, with a 36-month initial term.

“When experienced operators are ready to grow, our role is to move with them, bringing the certainty of execution and depth of structuring expertise that healthcare transactions demand,” said Joseph Borenstein, Head of the MonticelloAM Healthcare Bridge Lending team.

The sponsor is a healthcare client with a portfolio of over 80 healthcare properties spanning nine states. It used loan proceeds to purchase the real estate of all five communities, which account for over 400 licensed beds.

“Well-run skilled nursing facilities depend on more than just acquisition financing. They need reliable access to working capital to keep operations running, and to ensure residents receive proper care,” said Kim Gordon, Head of the MonticelloAM Working Capital group.