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.
The borrower on the deal was not revealed.
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