Andrew Montgomery of Montgomery Intermediary Group announced a couple of transactions in Illinois and Mississippi. First was for a skilled nursing/supportive living facility in a small, rural Illinois market. The facility features over 130 SNF beds and SLF units and sold to a large owner group that invested alongside a growing owner/operator in Illinois. The skilled nursing component originally opened in 2005, and the supportive living facility was added in 2007. Many owners have cited difficulties in operating senior care facilities in rural markets as their reason to divest, which may have been the case here. But we understand the buyer has committed to maintaining continuity of resident care, preserving staffing levels and ensuring a seamless transition to the residents, as well as improving revenues and using scale to implement various efficiencies in the operations.
Montgomery also sold an assisted living/memory care community in a smaller Mississippi market. Featuring between 30 and 40 units, the community was previously owned by a real estate private equity company. A regional owner/operator with other assets in the area emerged as the buyer, for an undisclosed price. We imagine they would use that regional scale to improve operations and profitability.
