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St. Louis SNF Package
HUD deal closed on time. MIG overcame strict timelines to finalize the sale.
Overview
One of the nation's largest providers of post-acute care had been looking to sell a couple of their SNFs but had no luck getting a deal done with previous buyers they had worked with. Montgomery Intermediary Group was connected on the opportunity and was given the chance to bring a buyer to the table. Soon thereafter, MIG brought a buyer that was given a strict and short time frame to get the deal closed.
Results
MIG was on weekly calls with the buyer, seller, attorneys, and HUD servicers to get the deal done in time. With a HUD assumption in play, there's a lot behind the scenes that needs to be done, and if you've worked with HUD before you know they aren't afraid to take their time!
Conclusion
With what felt like a photo finish, MIG and its buyer were able to get the HUD loan assumed and the deal closed just in time and as scheduled. MIG's experience with HUD during this transaction has been extremely valuable while working on other deals with similar assumption processes.
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