Monticello Participates in $14.3M Loan to Acquire Community in Sacramento

SACRAMENTO, Calif. — Monticello Asset Management, through one of its investment vehicles, has participated in a $14.3 million bridge-to-HUD loan to 2200 Gramercy Drive LLC. The borrower will use the funds to acquire an assisted living and skilled nursing facility in Sacramento. 

Built in 1991, the seller is a private owner planning to retire. The property features 85 assisted living beds and 120 skilled nursing beds.

The operator of the facility plans to implement a $2 million capital improvement plan throughout the facility. Improvements include new floors, wallpaper and beds, along with upgrades to technology, the rehabilitation gym, lighting and the dining room, among other improvements.

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