Evans Senior Investments Sells Southern Illinois Portfolio
Evans Senior Investments is on a tear in 2018, having just closed a portfolio sale in southern Illinois on behalf of the independent owner/operator seller after already closing three other deals earlier this month. The “Legacy Place” portfolio consists of four assisted living/memory care communities and 200 total units (149 AL and 51 MC) spread out across southern Illinois. Each community was purpose-built in the last eight years and operated well, with a combined 95% occupancy, 100% private pay census and 34.3% EBITDAR margin on approximately $7.72 million of trailing revenues, portfolio-wide. A regional owner/operator stepped in as the buyer, paying $32.63 million, or about $163,000 per... Read More »
Evans Senior Investments Lands A Triple
Evans Senior Investments (ESI) showed its range in closing three transactions across the country, totaling over $20 million. First, in its home state of Illinois, ESI represented the seller, an independent owner/operator, in the sale/leaseback of its 30-unit assisted living community in Winnebago (near Rockford, Illinois) for $4 million, or $133,300 per unit. Just 10 years old, the community was operating well, with 97% occupancy, 100% private pay census, and a 33% operating margin on about $1.225 million of revenues. A publicly traded REIT added the property into a master lease in which the seller already managed other communities on behalf of the REIT. Moving South, ESI handled the sale... Read More »
Skilled Nursing Facility Receivership Ends With Sale
A Kansas skilled nursing facility in receivership recently sold with the help of Evans Senior Investments, for an undisclosed price. Built in 1977, the facility has 67 skilled nursing beds and 15 residential care units, and it was 81% occupied. However, despite its location five blocks away from the area’s only community hospital, it was in receivership at the time of listing. ESI represented the court-appointed receiver in the facility’s sale to an experienced operator that plans to use its economies of scale to increase revenues and improve the operating margin. Read More »
Evans Senior Investments Sells Value-Add Assisted Living
Evans Senior Investments (ESI) successfully sold a 92-unit assisted living/memory care community, for an undisclosed price, in Greendale, Wisconsin (about 10 miles south of Milwaukee). Built in 1998, with additions in 1999 and 2010, this three-building campus includes 92 units of assisted living and memory care, licensed as a Community-Based Residential Facility. Occupancy has been increasing since January 2016, and now sits in the low-90s, with a significant Medicaid census. Chicago-based SHA Capital Partners was the buyer and brought in Matthews Senior Living to operate the community, which is considered to be a value-add opportunity for them. ESI represented an independent owner in the... Read More »Schedule a demo
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