ESI Closes Easley Transaction

Evans Senior Investments found a new owner for a well-operating independent/assisted living community in Easley, South Carolina. Previously independently owned and operated, the community was built in 1997 and expanded in 2004. At the time of the sale, it was 96% occupied with a 100% private pay census and operated at a 36% EBITDAR margin. Nevertheless, the buyer, a Chicago-based private equity firm, will attempt to use the scale from its portfolio to further improve profitability. They paid $14.5 million, or $145,000 per unit, for the opportunity.

 

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