We don’t see much Montana M&A, but Tony Cassie of Marcus & Millichap closed two skilled nursing transactions in Big Sky Country, plus one in Washington State. Both Montana facilities are located in Billings. The 161-bed facility was built in the 1960s, while the 150-bed facility was built in stages in 1964 and 1974.
A private real estate investment firm and an operating partner stepped in to purchase the facilities from a national owner/operator for a combined $13.7 million, or $44,050 per bed. Mr. Cassie also sold a 105-bed skilled nursing facility in Renton, Washington (Seattle MSA) on behalf of a private individual owner. Built in 1969, the facility was purchased by a real estate investment firm for $3.5 million, or $33,300 per unit.