A well-occupied seniors housing community in San Antonio, Texas, found a new owner thanks to Evans Senior Investments. The Class-A community was built in 2017 with 42 assisted living and 21 memory care units. Featuring plentiful amenities, it was 95% occupied with a 100% private pay census at the time of marketing. Additionally, in January 2022, the operator, Sodalis Senior Living, implemented a 4% rate increase for all current residents, and successfully implemented another lease renewal increase of 6% in January of 2023.
There were several compelling offers for the seller, but Sodalis ended up as the buyer. The purchase price was not disclosed.
