Evans Senior Investments had quite the end of the year, as yet another December 31st closing was revealed to us. It featured a 45-unit/70-bed assisted living community that was built in 1984 and significantly renovated in 2005 in Clemmons, North Carolina (Winston-Salem MSA).
About a year ago, Evans actually worked with the seller to procure a new tenant to operate it. At the time, occupancy had averaged 85% for the previous two years. A regional owner/operator was selected, and the partnership was clearly successful, as they are now exercising on a purchase option to buy the community for $5 million, or $111,000 per unit.