Evans Senior Investments displayed some variety in its two latest transactions. First, the firm closed the sale of a 30-unit/60-bed memory care community located about five miles southwest of Las Vegas, Nevada. Built in 2010, the community was formerly owned and operated by Genesis Healthcare, and although it had 100% private pay residents, occupancy was just 61% at the time of listing. A private equity firm with a local footprint around Sin City saw the opportunity to add value ended up buying the community for $2.1 million, or $70,000 per unit, bringing in Pacifica Senior Living to operate.
Switching gears slightly, Evans Senior Investments then worked to procure a new tenant for an assisted living community in Clemmons, North Carolina. Featuring 70 licensed beds in 45 units, the community was originally built in 1984 and substantially renovated in 2005. Occupancy has averaged 85% (by bed) since 2016 under the management of its independent owner, who decided to transition to a non-operational ownership interest. ESI found a regional owner/operator to lease and operate the community going forward.
