Albany Business Review: Altamont physical therapy practice acquired
"The purchase of Altamont Physical Therapy, including property and equipment, was financed by Pioneer and the Al Tech Fund — a loan program administered by the Advance Albany County Alliance.
Carman purchased the building for $350,000, according to a deed filed with Albany County. His mortgage with Pioneer was for $231,000, along with a $158,700 loan from the Al Tech Loan Fund. The deal closed March 31.
Matthew Dahl, a commercial team leader at Pioneer, said deals like this, where a small business is able to be bought out by someone within the family who intends to keep it small, are becoming more rare. Most of these company exits, Dahl said, are fueled by private equity firms, where the PE firm is buying the product or clients, not the property or employees."