MonticelloAM, along with a firm affiliate, closed $28 million in bridge financing for two seniors housing properties in Wisconsin.
Senior Managing Director Karina Davydov originated the transaction through the firm’s bridge lending platform. “We value the trust our repeat clients place in us and are proud to support this group, reflecting our continued confidence in their vision and operational strength,” said Davydov. “This loan underscores our commitment to our borrowers in the seniors housing sector and our ability to deliver tailored capital solutions that meet their evolving needs.”
The $28 million floating-rate senior bridge loan has a 24-month initial term with two extension options. The Sponsor, an experienced Midwest operator and repeat client of MonticelloAM, plans to use the loan proceeds to refinance the existing debt on two assisted living communities near Madison and Milwaukee, comprising 170 licensed beds.
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
Learn more
An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
Learn more
The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
Learn moreRe/Max Real Estate Professionals
Central CA Commercial | California
Recckio Real Estate & Development
Northgate Real Estate Group
California
California