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MONTICELLOAM, LLC Funds $22M Working Capital Facility for Skilled Nursing Portfolio
January 9, 2025
Source: MONTICELLOAM, LLC
MONTICELLOAM, LLC (“MonticelloAM”), has announced the closing of a $22 million senior secured working capital facility, complementing the firm’s recent $400 million bridge financing for 29 Southeastern skilled nursing facilities.
The working capital facility has a three-year initial term and will cover the day-to-day operating expenses of over 2,900 skilled nursing beds across Kentucky and Tennessee.
“We are thrilled to provide this financing solution to a returning client and exceptional sponsorship group. This $22 million transaction contributed to a record year for the firm in 2024, with the highest volume of asset-based loan originations in our firm’s history. We look forward to continuing to deliver the exceptional service our clients have come to expect throughout 2025,” said Kim Gordon, head of the MonticelloAM Working Capital group.
