TENNESSEE — Monticello Asset Management, through two of its investment vehicles, has provided $10.4 million in financing for the acquisition of a 139-bed skilled nursing facility in Tennessee.
The borrower is Madison Due West Property LLC. The specific name and location of the property was not disclosed.
The financing includes an $8.9 million first lien debt financing and a $1.5 million working capital loan. The borrower expects to replace the package with HUD financing.
The property totals 56,720 square feet on a 10.4-acre plot.