This covers all seniors housing and care transactions handled by Evans Senior Investments.
Evans Senior Investments traveled to Danbury, Connecticut to sell an assisted living community with a lot of room for improvement, operationally. Built in 2000, the 48-unit community was independently owned and operated but ran with unusually high expenses. Cash flow was still positive, but the operating margin fell just below 12%. Occupancy averaged 85% over […]
A private REIT based in North Dakota purchased a private pay assisted living community in Rapid City, South Dakota with hopes of improving occupancy and operations to increase value. Built in 2004, the 87-unit community was 85% occupied with a 20% EBITDAR margin in the trailing 12 months. The seller was an independent owner/operator, so […]
An independent owner/operator’s only senior care campus in Norwalk, Ohio sold to a regional operator thanks to the guidance of Evans Senior Investments. In the exit, the seller received $7.3 million, or nearly $55,000 per bed/unit, at an 8.9% cap rate, for the campus. This is not like any senior care campus. The property includes […]
Evans Senior Investments displayed some variety in its two latest transactions. First, the firm closed the sale of a 30-unit/60-bed memory care community located about five miles southwest of Las Vegas, Nevada. Built in 2010, the community was formerly owned and operated by Genesis Healthcare, and although it had 100% private pay residents, occupancy was […]
Skilled nursing facility prices may have tempered from their peak in 2016 (we hosted a webinar on the very subject last month), but Evans Senior Investments bucked that trend by selling a pair of New Jersey skilled nursing facilities for $31.5 million, or nearly $190,000 per bed. The facilities’ locations probably had the most impact […]
A unique skilled nursing facility with a sizable behavioral health census sold in Tucson, Arizona, in a deal handled by Evans Senior Investments. Those behavioral beds proved to be quite the boon to cash flow, with their Medicaid rate nearing $300 per day. Apart from them, the facility had several areas to improve on, including […]
A publicly-traded REIT divested a non-core skilled nursing facility in North Carolina. They were represented by Evans Senior Investments, which brought in a growing regional owner/operator as the buyer. Located in a tertiary market outside of Charlotte (in the town of Gastonia), the facility was operated by a national operator but averaged just 70% occupancy […]
Evans Senior Investments closed out May by closing the sale of two private pay senior living communities in Arkansas for a combined $37.965 million, or $183,000 per unit. Located in the towns of Rogers and Bentonville (about 10 miles apart), the communities totaled 56 independent living cottages, 116 assisted living units and 36 memory care units, all […]
Evans Senior Investments (ESI) closed on the sale of two properties in New York known as the Robinson Terrace Portfolio. It included a 120-bed skilled nursing facility that was built in Samford in 1973, and a 55-unit assisted living community built in 2011 two miles away. Despite the rural location, occupancy had been relatively high, […]
Chicago Pacific Founders turned to Aron Will of CBRE to arrange financing for its latest acquisition in Easley, South Carolina. We reported last month that Evans Senior Investments had represented the independent owner/operator in its sale of a 100-unit independent/assisted living community. Originally built by the seller in 1997 and expanded in 2004, the Easley […]