- July 20, 2021
- Posted by: Stratford Team
- Category: Business
With five skilled nursing properties acquired this month and two more due to come on board in August, Indiana operator Majestic Care is definitively in growth mode.
The operator continues to look for different opportunities to serve its core Midwest market while expanding to other geographic areas, Majestic CEO Bernie McGuinness said, including expansion into the Southeast.
“We look at a regional approach where we can find a cluster of buildings in a different state or in a different market, or we can provide that regional support, though we’ll [continue to] have the corporate office in Westfield, Ind.,” McGuinness explained.
July additions include three facilities in Indiana and two in Michigan, with David Marx, CEO of Marx Development Group as the purchaser; August facilities are all in Indiana, McGuinness said. Majestic told SNN it prefers not to disclose purchase price for these transactions.
Riskier Acquisitions
Once its…