For the second time in just 18 months, Evans Senior Investments facilitated the sale of Country Meadow Place, a 56-unit assisted living community in Mason City, Iowa. The seller was Jaybird Senior Living, a regional owner/operator that acquired the asset in 2024 for $13 million, or $232,100 per unit. Evans handled that transaction too. The community was well occupied at the time of the 2024 purchase, but the property has continued to perform well, achieving an in-place NOI margin of 36%.
Through a competitive marketing process, ESI secured seven offers from institutional investors. The selected buyer was a private family office that paid $15.15 million, or $270,500 per unit. The transaction was structured as a HUD loan assumption of the debt placed in 2024, with Jaybird remaining as the operator post-closing.
