There are no summer doldrums for Montgomery Intermediary Group (MIG), which announced a closing in Missouri and a new hire at the end of July. The firm first represented the buyer in the acquisition of two skilled nursing facilities in St. Louis County. Built in 1978 and 1991, respectively, the facilities total more than 240 licensed beds. The seller, a large SNF owner/operator, deemed the facilities to be outliers in its portfolio, hence the disposition.
However, the buyer was looking to expand its footprint in Missouri, and was also attracted by assumable, low-rate HUD debt on the properties. Andrew Montgomery handled the transaction
Montgomery was also joined by Jeremy Warren, previously an AVP at a bank that is very active in the SNF lending space. As a Director, Warren will build MIG’s Healthcare Real Estate debt brokerage platform while also expanding its investment sales team into new states, including Texas and Oklahoma. In his previous role, he successfully underwrote, actively managed and helped source skilled nursing/senior housing transactions nationwide, totaling more than $350 million of funded debt.
