KANSAS CLOSING ANNOUNCEMENT

• $6,077,000 Bridge-to-HUD Loan
• Skilled Nursing/Assisted Living
• 2-property Acquisition
• Kansas
• May 2022

May 2^nd, 2022 – Monarch Advisors is pleased to announce the closing of a new loan for the acquisition of 2 senior care facilities in Kansas.  The buyer, a long-time owner-operator in Kansas senior care, engaged Monarch to source $6.1 million of senior debt for the transaction.  Monarch was successful at securing a commitment from a regional bank with a growing senior housing specialty practice.  The acquisition debt covered 100% of the total transaction costs including repayment of a small debt on a nearby facility owned by the buyer which they plan to close and consolidate into the acquired properties.  The 3-year loan is structured with no financial covenants, and interest only payments for the first 18 months converting to a 25-year amortization schedule thereafter. The rate floats at Prime + 1.25% during the interest only period, then converts to a fixed rate at Prime + 1.0%.

Upon closing the transaction, the client, Medicalodges, Inc., offered the following statement, “We engaged Monarch Advisors to source the acquisition debt for our recent acquisition.   Alec worked hard to find us senior lenders with very competitive terms and pricing and helped us through the underwriting process all the way to closing.  Being able to rely on Alec to source the financing allowed us to focus our efforts on the due diligence process, which we believe has been key in a smooth transition of the acquired properties.  We would be happy to work with Monarch again, and would recommend them highly”