Andrew Montgomery and Jeremy Warren of Montgomery Intermediary Group stayed active throughout the summer, beginning with a couple of closings in the Midwest. In addition to those closings, the team facilitated the sale of a skilled nursing facility in a smaller Central Missouri market. Built in 1967, the facility features more than 90 beds and was between 35% and 40% occupied at the time of sale. The seller was a local Missouri owner, and the buyer was a repeat MIG client. The turnaround asset is in a rural area, and while the purchase price was not disclosed, it was said to be in line with similar deals that MIG has closed in comparable Missouri markets.
Montgomery and Warren also handled the sale of a 20-unit assisted living community in Eastern Tennessee. Built in the 1990s, the community was vacant at the time of sale. The buyer paid $92,500 per unit and plans to convert it from assisted living into supportive housing for youth aging out of foster care. The buyer is looking to acquire additional assets across Memphis, Chattanooga and Central Tennessee that can be repurposed for similar uses.
