A 94-unit senior living community in Covington, Louisiana changed hands five years after its last sale, more than doubling in value in the time. Granted, the community added a 24-unit memory care wing in 2014, which helped push the value. Nevertheless, after purchasing the community for $11 million, or $142,857 per unit, Arcadia Communities brought occupancy up from 91% to 99% in five years (even with the expansion) and nearly doubled the EBITDA. Now, the regional operator is selling the community to a national private equity firm for $22.2 million, or $236,170 per unit, with a 7% cap rate. Evans Senior Investments handled the transaction.