A publicly-traded REIT divested a non-core skilled nursing facility in North Carolina. They were represented by Evans Senior Investments, which brought in a growing regional owner/operator as the buyer. Located in a tertiary market outside of Charlotte (in the town of Gastonia), the facility was operated by a national operator but averaged just 70% occupancy at the time of the sale. This offered an opportunity for the new owner to reposition the facility in the local market and improve census (and add value, of course). Paying $7.0 million, or about $59,000 per bed, the buyer expanded its presence in North Carolina. Now, the work begins.
Evans Senior Investments’ Tar Heel State Transaction
