We saw yet another high-priced skilled nursing deal when Evans Senior Investments announced the sale of a 138-bed skilled nursing facility in Anaheim, California, for $25 million, or $181,200 per bed. Owned by a local operator, the facility was 96% occupied and making over $2 million in net operating income at the time of marketing. Performance continued to stay strong throughout marketing up until the time of closing. The facility also held a contract for over 50 therapeutic residential care beds.
The buyer was an East Coast real estate holding company that structured a lease with a local operator. Evans Senior Investments worked on behalf of the seller and the buyer to handle this transaction, and Matt Jassak of Foley & Lardner represented the sellers.
