Knoxville, TN– Evans Senior Investments (ESI) successfully arranged the sale of Trinity Hills of Knoxville. Acting on behalf of a regional owner-operator, ESI orchestrated the transaction, resulting in a HUD assumption by the buyer. The purchase price was $6,150,000, or $76,875 per bed.
Trinity Hills, established in 2006 and situated a few miles outside of downtown Knoxville, stands as a beacon of senior living excellence in the area. The community features a total of 80 senior housing units, offering 66 assisted living units and 14 memory care units. Trinity Hills operates exclusively on a private pay basis. Their dedication to providing exceptional care and service has earned them an excellent reputation among residents and their families.
At the time of marketing, Trinity Hills of Knoxville was 92% occupied, and had maintained an occupancy rate of over 90% for more than 12 consecutive months. This combined with the community’s financial performance further demonstrated its strong position in the market, with total revenue surpassing $3,700,000 and net operating income over $400,000.
ESI ran a confidential marketing process, targeting a select group of senior housing buyers to ensure the ideal match for Trinity Hills. Using strategic outreach and tailored communication, ESI attracted significant interest in the property, drawing in several offers from qualified buyers. Ultimately, Bourne Financial Group was selected as the buyer.
“Through close collaboration with both parties and the HUD lender, ESI effectively facilitated a seamless transition in the loan assumption process, thereby assisting in the smooth transfer of operations” commented Brendan DeSilvia, Director of M&A at Evans Senior Investments.
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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