NEW YORK CITY — Monticello Asset Management has arranged $8 million in financing for the acquisition of a 140-bed skilled nursing facility in New York City.
The facility was built in 1979 and currently has a five-star CMS rating. In addition to skilled nursing services, the facility contains a 40-bed, non-secure memory unit and a 28-bed short-term or subacute therapy unit. The property totals 45,888 square feet on an 8.2-acre plot.
The financing is a bridge loan, which the undisclosed borrower plans to convert to HUD financing in the future.