Lake Charles, Louisiana – Evans Senior Investments (ESI) has successfully arranged a stock sale for a two-property skilled nursing portfolio in southwest Louisiana. The transaction was completed on behalf of an independent owner.
Built in 1970 and 1972 and situated just 10 miles from one another, the two communities are made up of a total of 350+/- skilled nursing beds. Prior to the Covid outbreak, the portfolio maintained an average occupancy rate of 72%. A few months into the pandemic, Hurricane Laura devastated the area causing both communities to have to undergo significant renovations. Since reopening, the properties have faced difficulties in achieving pre-pandemic and pre-hurricane census levels.
At the time of marketing, the communities were in lease up from the substantial reconstruction and renovation following the hurricane.
Evans Senior Investments effectively showcased the portfolio’s strong position in the market, emphasizing its post-acute rehab potential and recent renovations. Throughout the process, ESI received several competitive offers, carefully reviewing each offer to ensure alignment with the seller’s preferences. Ultimately, Tutera Senior Living and Healthcare, the existing operator, was selected as the buyer.
“We are thrilled to have facilitated the sale of these communities in Lake Charles,” said Jeremy Stroiman, CEO at ESI. “ESI’s adeptness in navigating complex transactions played a pivotal role in optimizing proceeds for the seller, while concurrently minimizing the overall tax burden for the family via the stock sale”.
About Evans Senior Investments
Evans Senior Investments (ESI) is a real estate brokerage firm with offices in Chicago, IL and Denver, CO specializing in the long-term care asset class. ESI provides market valuations and sell-side advisory to Seniors Housing and Skilled Nursing owners across the country. Founded in 2009 by twin brothers Jason and Jeremy Stroiman, ESI aims to provide a more efficient, transparent, and faster selling process through a unique team-based approach to brokerage. ESI’s sellers are represented by the entire firm, with each member an expert in the varying aspects of the transaction process.
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