Monticello Asset Management, LLC, a specialized private real estate and asset-based lender, asset manager and servicer, announced it has provided $16 million in first lien debt financing for the acquisition of two skilled nursing properties totaling 303 beds in Tennessee. The transaction also includes a $3 million working capital loan to the operating companies of the properties provided by Monticello’s asset-based lending group, Monticello Commercial Capital, LLC.

The Borrower is an experienced owner and operator with a current portfolio of 3,765 licensed beds and has an established relationship with Monticello. Prior to this deal, Monticello financed the Borrower’s acquisition of a number of facilities during 2017 and 2018. The Borrower anticipates receiving a HUD guaranteed loan.