Evans Senior Investments is on a tear in 2018, having just closed a portfolio sale in southern Illinois on behalf of the independent owner/operator seller after already closing three other deals earlier this month.
The “Legacy Place” portfolio consists of four assisted living/memory care communities and 200 total units (149 AL and 51 MC) spread out across southern Illinois. Each community was purpose-built in the last eight years and operated well, with a combined 95% occupancy, 100% private pay census and 34.3% EBITDAR margin on approximately $7.72 million of trailing revenues, portfolio-wide.
A regional owner/operator stepped in as the buyer, paying $32.63 million, or about $163,000 per unit, with an 8.2% cap rate.
