Evans Senior Investments (ESI) successfully represented the sale of two seniors housing facilities in Arkansas for approximately $37,965,000 ($183,000 price per unit).
The portfolio consisted of two facilities encompassing 208 total seniors housing units (56 independent living cottages, 116 assisted living units, and 36 memory care units). The two facilities were located approximately 10 miles apart from each other in Rogers and Bentonville, Arkansas.
With both communities built in the last three years, the portfolio represented the opportunity to own two Class A assets in a supply restricted market. Each of the portfolio’s 208 units features private bathrooms, modern finishes, community club houses, and expansive square footage. At the time of the sale, the Rogers community averaged 77.0% occupancy and was profitable posting a EBITDAR margin of 23.9% over the prior trailing twelve months period. The Bentonville community had just recently opened and was in the early stages of lease-up.
ESI represented the seller, a regional owner/operator, in the transaction. Jeremy Stroiman, Chief Executive Officer of ESI, commented “The Northwest Arkansas Portfolio presented an exciting opportunity for the new regional operator to fold these assets into their portfolio and bring both communities to stabilized occupancy levels”.
The buyer was a Chicago based private equity group and the communities will be managed by a Texas based operator.
About Evans Senior Investments
Evans Senior Investments (ESI) is a real estate brokerage firm with offices in Chicago, IL and Boulder, CO focused on providing solutions that empower business owners in the long-term care asset class. Our services include market analysis and seller representation. With 12+ years in the industry, ESI has valued over $15 billion in assets and sold more than $2 billion of long-term care facilities through our Buyer Preference Program that confidentially matches buyers to acquisition opportunities.
Contact:
Jeremy Stroiman
Chief Executive Officer
Evans Senior Investments
jeremy.stroiman@evanssenior.com
Phone: 312-896-0123
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