An institutional private equity firm engaged Evans Senior Investments to sell its 120-unit independent living community in Arvada, Colorado (Denver MSA). The Kipling Meadows was built in 2008 and renovated in 2018. In the three months prior to its sale, the community averaged 86% occupancy (based on units) and was producing positive cash flow. Occupancy actually increased to 90% in the latest month, so Evans could forecast a 6% rental rate increase to a new owner, who was not disclosed.
PE Firm Divests Denver-Area Property
