KENTUCKY — Monticello Asset Management has funded $8.4 million in first lien debt financing and $1.5 million in working capital to Healthcare Management KY LLC.
The borrower will use the funds to acquire two skilled nursing facilities in Kentucky totaling 147 beds. Both built in the 1990s, one of the two communities was renovated in 2014, adding a rehabilitation gym. The names and locations of the properties were not disclosed.
The borrower anticipates receiving a HUD guaranteed loan within the bridge-to-HUD term.