Evans Senior Investments announced it has arranged the sale of a skilled nursing portfolio in Virginia. The three-property portfolio sits on the shores of the Chesapeake in Virginia and comprises a total of 270 skilled nursing beds in addition to 50 assisted living units. Selling the portfolio was Hill Valley Healthcare for a purchase price of $59 million or $184,400 per bed. Two of the facilities were located in rural markets, but the portfolio was able to maintain an occupancy of 86% throughout the marketing process. Due to a strong Medicaid rate increase in July 2022, the portfolio also had strong levels of cash flow. Emerging as the buyer was an East Coast-based group that was looking to make its first acquisition in the industry despite not owning any skilled nursing facilities.
Evans Senior Investments Sells Skilled Nursing Portfolio In Virginia
