Las Vegas, Nevada – Evans Senior Investments (ESI) has successfully arranged the sale of a 45-bed post-acute rehab community in Las Vegas, Nevada. The transaction was executed on behalf of a regional owner-operator for a purchase price of $8,500,000, or $188,888 per bed.
The community, exclusively licensed to accept Medicare only, has provided high-quality skilled nursing care since its inception in 2015. At the time of marketing, the facility was 73% occupied and had struggled to maintain healthy occupancy levels in previous months. Despite these challenges, the facility’s growth potential and the anticipated Medicare rate increase set to take effect this year presented a valuable opportunity for the right buyer.
The previous owner-operator made the strategic decision to divest this asset to better concentrate on their regional portfolio. This was their only asset outside of the state of Michigan, and managing a single facility in the state presented challenges due to a lack of economies of scale.
ESI ran a confidential marketing process, reaching out to a select group of prospective buyers. This targeted approach resulted in a competitive bidding environment and ultimately led to the selection of a national owner-operator with an existing presence in the state. The LOI was executed within 9 days and the transaction was completed within four months of ESI launching its marketing campaign.
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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