MonticelloAM has provided $87 million to refinance a skilled nursing portfolio in Florida, covering four properties.
Most of the funding ($80 million) comes via a bridge loan, which carries a 24-month term that includes two exercise options of six months each for the borrower. Also, the other $7 million will serve as a capital revolver line of credit, which will help manage the operational costs for the portfolio, which spans to more than 450 skilled nursing beds.
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