Evans Senior Investments Sells Upstate New York Community
Evans Senior Investments handled the sale of an assisted living/memory care community in Rome, New York, about 15 miles northwest of Utica. Built in 2009, the community is licensed for 48 AL and 12 MC beds, and also holds an Assisted Living Program (ALP) Medicaid license on 16 beds. Over the past 12 months, it has averaged 90% occupancy, with an 80% private pay census. Its operating margin has also been strong, at 29% on more than $2.6 million of revenues. But that could be improved by a new and potentially larger owner. The independent owner/operator worked with Evans to find a buyer, which ended up being a regional owner/operator looking to expand its presence in the state and... Read More »
Evans Senior Investments Sells Florida Community
Fresh off three top-five finishes in our Broker Rankings (see the story in Februrary’s issue of The SeniorCare Investor), Evans Senior Investments represented the independent owner/operator of a 66-unit assisted living/memory care community in High Springs, Florida in the property’s sale. Originally built in 1988 with a 36-unit expansion in 2014, it currently features 46 assisted living and 20 memory care units. The community holds a Medicaid license on the 72 licensed beds, and 71% of the census was private pay residents. Based on beds, occupancy averaged 92% during the twelve months prior to the sale, and the operating margin was a strong 28% on nearly... Read More »
Evans Senior Investments Heads Back To Green Springs
Less than a year after selling a small independent living community in Green Springs, Ohio, the team at Evans Senior Investments returned to the site to sell the remaining two facilities on the campus, including a facility with 31 skilled nursing beds and 20 assisted living units and a separate 120-bed skilled nursing facility. In May, Evans had represented the court-appointed receiver in the sale of a six-unit IL community, which was the first phase of its exit. Built in phases from 1963 to 2006, the campus had been owned and operated by a second-generation family member for over 30 years, until they decided to sell in 2016 in order to focus on their existing... Read More »
Evans Senior Investments Sells Evansville SNF
A skilled nursing facility with strong UPL revenues sold in Evansville, Indiana thanks to Evans Senior Investments. The owner/operator primarily operated in the Southeast, and this facility represented its only asset in the Midwest, with the nearest property nearly 300 miles away. So, an Indiana exit was arranged, and a new regional owner/operator looking to expand its presence in the state emerged as the new owner. COVID-19 unfortunately hit the 113-bed facility earlier this year, leading to 66 total cases and increased expenses. Also, occupancy dropped from 73% to 67%, but cash flow remained strong at $1.1 million in NOI, for a 13% margin on approximately $7.83 million of revenues.... Read More »Schedule a demo
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