Evans Senior Investments was engaged by an independent owner/operator in the sale of a skilled nursing facility in Aurora, Colorado. Evans targeted a select pool of prospective buyers, ensuring a competitive bidding environment and ultimately procuring 10 offers for the facility.
Built in 1972 with a 2018 renovation, Summit Rehabilitation & Care Community features 110 beds on 2.44 acres across 44,630 square feet. It maintained an occupancy rate of 95% and generated over $11.9 million in annual revenue, leading to substantial profitability. The recent Medicaid rate increases in the state, with approved future increases in 2024 and 2025, made it an attractive opportunity for prospective buyers (hence the 10 offers). A real estate holding company based on the East Coast was chosen as the buyer, and ESI paired them with the new tenant, facilitating a new partnership in the process.
