Evans Senior Investments announced it has arranged the sale of an assisted living community in South Carolina on behalf of a large East Coast private equity firm. The buyer was Windriver Companies, which paid an undisclosed price. Built in 2001, the 52-unit community is located just outside of Greenville.
With a 100% private pay census, the community was 40% occupied at the time of marketing and losing money. Occupancy increased to 55% at the time of closing, but there is still a long way to go. Windriver Companies plans to begin renovations as well as add memory care units to the community.
