Montgomery Intermediary Group continued its active 2025 with a financing and two recent M&A closings. First, Jeremy Warren worked on behalf of an owner/operator seeking to recapitalize a 210-unit assisted living community that was originally a purpose-built hotel. The goal was to generate cash for ownership and to finance cosmetic renovations to enhance the property’s appeal. The owner had previously approached a few lenders but was unsuccessful in securing favorable financing terms. That’s when they engaged MIG to lead a debt arrangement process.
The effort resulted in multiple term sheets, with the most competitive offer coming from a regional credit union actively looking to expand its commercial lending platform. This lender was not previously on the sponsor’s radar, but it met its financial objectives.
Andrew Montgomery then closed two sales, including one that involved two skilled nursing facilities totaling around 200 beds around St. Louis, Missouri. Both were older buildings that had received renovations in the 1990s, and a more recent upgrade in 2010 at one location. Revenues topped $8.0 million combined, with a Medicaid census between 85% and 90%. There was a small private pay census and some hospice payors, as well. But occupancy needed improvement. The buyer was not disclosed.
Montgomery next sold a skilled nursing/residential care facility in a smaller market in Missouri. Licensed for over 100 beds, the facility was built in the 1970s and featured a majority of SNF beds. Census was on the lower end, too, with the SNF reporting at least 60% Medicaid residents. There was a healthy private pay population and some Medicare patients. The facility sold to a landlord group that leases its facilities to tenants in Missouri. Additionally, MIG noted its involvement in the sale of three buildings across the Midwest and Southeast.
