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Kim Gordon & Joseph Borenstein Provide $87M Loan For Florida Skilled Nursing Facilities Portfolio
FINANCED
$87,000,000
National
See Similar DealsNursing Home
Financed 11/11/2024
FINANCED
Kim Gordon & Joseph Borenstein Provide $87M Loan For Florida Skilled Nursing Facilities Portfolio
Nursing Home
Financed 11/11/2024
Summary
Asset Type:Nursing Home
Transaction Type:Loan
The transaction involves a skilled nursing portfolio located in Florida, encompassing four skilled nursing facilities with a total of 450 beds. The loan amount for this portfolio is $87,000,000. The loan is structured with a 24-month term and includes provisions for two six-month extensions.
Summary of transaction details:
- Property Type: Nursing Home
- Transaction Amount: $87,000,000
- Lender: Kim Gordon & Joseph Borenstein - MonticelloAM
- Loan Terms: 24-month term & two six-month extensions
- Includes: $7 million revolver for operational expenses
- Market: Florida
Kim Gordon and Joseph Borenstein represent MonticelloAM in this financing transaction, which is aimed at refinancing existing debt for the skilled nursing facilities in the portfolio. This strategic move further supports operational stability and liquidity for the assets involved.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$87,000,000.00
Monthly NOI$580,000.00
Monthly Debt Service$549,899.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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