Evans Senior Investments successfully arranged the sale of two struggling skilled nursing facilities that were family-owned and operated in Northern Indiana. This was not an ordinary transaction process, as both facilities had to receive newly issued Medicare and Medicaid billing numbers given pre-existing issues with the prior hospital partnership. This created a significant regulatory hurdle, and Evans worked with both parties to receive newly issued billing numbers before closing. The family owner exited the industry with the sale.
One facility, named Pilgrim Manor, is located in the town of Plymouth. Featuring 78 beds, including 40 private rooms, it was built in 1969 and received a significant renovation in 2012. Despite experiencing financial challenges and a 73% occupancy rate at the time of sale, the facility maintained a four-star CMS rating.
The other facility was Chase Center in Logansport. Built in 1978, the 101-bed facility (including 15 private rooms) was also struggling at the time of the deal, with 44% occupancy and a one-star rating from CMS. Additionally, Chase Center had been undergoing extensive renovations since the onset of the COVID-19 pandemic, which were completed in June 2024. Evans targeted a select group of skilled nursing buyers in their network before selling both facilities for an undisclosed price.
