SMS 2021 Trust has established itself as a key player in the New Jersey skilled nursing facility sector, where it ties for the largest ownership position according to the latest CMS data. This strategic positioning highlights the trust’s significant investment in the healthcare infrastructure of the Garden State.
Portfolio Overview
The trust currently operates 59 skilled nursing facilities across seven states, with New Jersey representing its largest market concentration. The geographic distribution of SMS 2021 Trust’s portfolio includes:
- New Jersey: 29 facilities
- Maryland: 10 facilities
- Connecticut: 8 facilities
- Wisconsin: 4 facilities
- Delaware: 3 facilities
- Pennsylvania: 3 facilities
- West Virginia: 2 facilities
This regional concentration demonstrates the trust’s strategic focus on the Northeast and Mid-Atlantic healthcare markets, with nearly half of its portfolio located in New Jersey alone.
Ownership Structure
Analysis of CMS data reveals that SMS 2021 Trust maintains majority ownership in most of its facilities. Of its 59 total facilities, the trust holds:
- Full ownership (100%): 1 facility
- Majority ownership (50-99%): 56 facilities
- Minority ownership (5-49%): 1 facility
Market Context
New Jersey’s skilled nursing sector faces a complex regulatory environment that impacts investment strategies. The state’s Certificate of Need (CON) program requires state approval for facility expansions or new service establishment, potentially affecting the feasibility and timing of acquisitions.
Additionally, reimbursement structures are heavily dependent on Medicaid and Medicare. Changes in reimbursement rates and the growing influence of managed care organizations in New Jersey continue to shape the operational landscape for skilled nursing facility owners.
