A small assisted living community in South Dakota sold thanks to the team at Evans Senior Investments. An institutional owner/operator engaged Evans to facilitate the sale in order to redeploy capital into new opportunities.
The community was built in the last decade with 33 units of private pay assisted living, with a functional bed capacity of 40. It was a strong operator and often had a waitlist, so we imagine it ran at a healthy margin.
A provider with experience operating similar communities in comparable markets was selected as the buyer, making its first entry into South Dakota with the deal. They paid $4.3 million, or $130,300 per unit.
