Deciding when to sell your Seniors Housing or Long Term Care Facility can be extremely difficult, and as a result, certain market variables must always be monitored. As 2010 comes to a close, it is important to think about what 2011 will bring for the Seniors Housing Market.
As we start a new decade, facilities that were built in the early 2000's are no longer considered new or innovative assets. Buildings that are 8-15 years old often were built with a different design than if built today.
For example:
* Majority of units are studios or small bedrooms
* Limited common space
* No secured unit for Memory Care
* Physical plant prohibits catering to higher level acuity residents
The above facilities will eventually become functionally obsolete. Facilities built in the last 24 months have large rooms, 1-2 bedrooms, and an abundance of common space.
Selling older facilities today will insure you maximize your value and investment. Now may be the perfect time to sell before your asset drops to the next tier and your exit value decreases.
Another reason to consider selling your facility is capital gain taxes. In 2010 we have had all-time low capital gain tax rates. Sellers that don't act soon may miss out on low capital gain rates. There are significant discussion that there will be a capital gains tax rate increase in 2011. Selling your Seniors Housing Facility now can help to ensure you lock in lower tax rates on capital gains.
If you are interested in learning what your facility is worth today, please call (312) 896-0123
December 03, 2010
November 24, 2010
November 17, 2010
Evans Senior Investments Hired to Sell Oklahoma Facility
Evans Senior Investments was recently hired to sell a large Skilled Nursing Facility in Oklahoma. The facility has over 200 beds and has tremendous upside. This would be an ideal for an experienced skilled nursing operator to step in and help build census and turn the building around. The facility currently has a court appointed receiver.
For more information about this facility please contact Jason Stroiman at (312) 896-0123.
October 18, 2010
Evans Senior Investments Makes Push West of the Mississippi River
Evans Senior Investments will have several opportunities West of the Mississippi River including Skilled Nursing and Assisted Living Facilities. Jason will be visiting Oklahoma October 20-22, and Jason and David Dobek will be in Colorado October 27-29.
Time after time we are able to procure numerous offers from buyers across the country and create a competitive bidding arena. If you are looking to sell your senior housing facility, or would just like to discuss today's market in either of these states, please contact Jason Stroiman at (312) 896-0123.
Time after time we are able to procure numerous offers from buyers across the country and create a competitive bidding arena. If you are looking to sell your senior housing facility, or would just like to discuss today's market in either of these states, please contact Jason Stroiman at (312) 896-0123.
September 30, 2010
Memory Care Facility for Sale in Michigan
Evans Senior Investments has been hired to sell a Memory Care Facility in Southeast Michigan. Included in the sale is additional land to expand the facility.
The facility has an excellent reputation in the community providing high quality care for the past decade. For additional information on this facility, please contact Jason Stroiman at (312) 896-0123 or visit Evans Senior Investments’ website at www.evansseniorinvestments.com
The facility has an excellent reputation in the community providing high quality care for the past decade. For additional information on this facility, please contact Jason Stroiman at (312) 896-0123 or visit Evans Senior Investments’ website at www.evansseniorinvestments.com
September 22, 2010
Evans Senior Investments Welcomes New Business Development Associate
Jason Stroiman, President and CEO of Evans Senior Investments (ESI) a real estate advisory firm that specializes in selling seniors housing and long-term care communities across the country, is pleased to announce today the appointment of David Dobek as Business Development Associate.
Dobek joins the team at Evans Senior Investments after nearly two years at PepsiCo where he was a Finance Analyst. In this role, Dobek will expand Evans Senior Investments’ presence in the western part of the United States. Evans Senior Investments has closed transactions in over 20 different states and will continue to expand its national platform.
“We are proud to welcome Dobek to our team,” says Stroiman. “Dobek is a dynamic professional who will help guide the company’s continued growth.”
Dobek attended the University of Colorado – Boulder. He earned a degree in Business Administration and was a “Chick” Evans Scholar. Dobek currently resides in Chicago.
September 17, 2010
2010 NIC Conference in Chicago
Are you considering buying or selling a senior housing or long-term care community?
Evans Senior Investments is a unique full- service company specializing in selling seniors housing and long-term care communities across the county. Meet with Jason Stroiman to learn more about the current acquisition market or to find out the value of your community.
2010 NIC Conference
September 22-24
Sheraton Hotel & Towers
301 East North Water Street
Chicago, Illinois 60611
To schedule an appointment, please contact:
Jason Stroiman
jstroiman@evansseniorinvestments.com
Evans Senior Investments is a unique full- service company specializing in selling seniors housing and long-term care communities across the county. Meet with Jason Stroiman to learn more about the current acquisition market or to find out the value of your community.
2010 NIC Conference
September 22-24
Sheraton Hotel & Towers
301 East North Water Street
Chicago, Illinois 60611
To schedule an appointment, please contact:
Jason Stroiman
jstroiman@evansseniorinvestments.com
August 11, 2010
Jason Stroiman Completes Wisconsin Senior Housing Transaction
Jason Stroiman of Evans Senior Investments completed the transaction of a 110 unit Senior Housing Community located outside of Madison, Wisconsin. With a sale price of $14,700,000 the facility sold with an aggressive capitalization rate of 7.6%.
Within 54 days of the facility being on the market, Evans Senior Investments was able to procure 7 offers. The offers were from a wide range of buyers including: groups from the Midwest, mid-sized companies from across the country (own 8-15 communities) and national, publicly traded companies.
For more information please contact Jason Stroiman (312) 896-0123
July 29, 2010
Assisted Living Facility for Sale in the Northeast
Evans Senior Investments was hired to sell an Assisted Living Facility in the Northeast. The facility offers a range of services, including: Assisted Living, Alzheimer’s & Dementia Care/Memory Support, Adult Day Care, Short Term Respite Care, Hospice Care & Support.
This community has consistently increased their rents 3-5% annually, with rents as high as $8,200/month. The asking price is $11,750,000 based on the 2009 actual financial statements leaving additional upside to the new owner with filling up the remain units and reducing operating expenses.
Those interested in learning more about this facility should contact Jason Stroiman at Evans Senior Investments at (312)896-0123 or visit Evans Senior Investments’ website, www.evansseniorinvestments.com.
This community has consistently increased their rents 3-5% annually, with rents as high as $8,200/month. The asking price is $11,750,000 based on the 2009 actual financial statements leaving additional upside to the new owner with filling up the remain units and reducing operating expenses.
Those interested in learning more about this facility should contact Jason Stroiman at Evans Senior Investments at (312)896-0123 or visit Evans Senior Investments’ website, www.evansseniorinvestments.com.
July 28, 2010
Impact of CCRC's on the Community - Part 1
Part 1
Across the nation, cities wrestle with zoning provisions and restrictions. In Portsmouth, New Hampshire, officials must decide whether a continuing care retirement community or an office development is more beneficial for a community.
What are the benefits of assisted living facilities and CCRC's?
A simple cost-revenue analysis provided to Portsmouth authorities showed this particular retirement community earning nearly $900,000 more than an office development. While these numbers seem to make the decision painless, much lingers behind the debate.
To understand the enormous breadth of the assisted living industry we must first examine a few statistics from the Assisted Living Federation of America.
* $109 billion in total output.
* $40 billion in earnings.
* 1.3 million jobs—total employment.
* $63 billion in value added.
These numbers take into account the "final demand multipliers" to better represent the assisted living industry's impact on the broader economy.
As we continue the cost-benefit analysis of assisted and independent living facilities, we will determine how the size of the facility directly relates to their social, economic, and at times even political impact.
Across the nation, cities wrestle with zoning provisions and restrictions. In Portsmouth, New Hampshire, officials must decide whether a continuing care retirement community or an office development is more beneficial for a community.
What are the benefits of assisted living facilities and CCRC's?
A simple cost-revenue analysis provided to Portsmouth authorities showed this particular retirement community earning nearly $900,000 more than an office development. While these numbers seem to make the decision painless, much lingers behind the debate.
To understand the enormous breadth of the assisted living industry we must first examine a few statistics from the Assisted Living Federation of America.
* $109 billion in total output.
* $40 billion in earnings.
* 1.3 million jobs—total employment.
* $63 billion in value added.
These numbers take into account the "final demand multipliers" to better represent the assisted living industry's impact on the broader economy.
As we continue the cost-benefit analysis of assisted and independent living facilities, we will determine how the size of the facility directly relates to their social, economic, and at times even political impact.
July 19, 2010
Chicago Suburb Opens 26 Acre Senior Living Community
In Geneva Illinois, just west of Chicago, Friendship Senior Options is breaking ground today on a $50 million dollar Life Care Community.
Greenfields of Geneva will consist of 147 apartment homes. Once the facility is opened, approximately 18 months from now, residents will enjoy access to Tanna Farms Golf Course as well as nearly 20 miles of walking trails extending throughout Kane County.
Greenfields of Geneva
Greenfields of Geneva will consist of 147 apartment homes. Once the facility is opened, approximately 18 months from now, residents will enjoy access to Tanna Farms Golf Course as well as nearly 20 miles of walking trails extending throughout Kane County.
Greenfields of Geneva
July 14, 2010
Job Opening at Evans Senior Investments
Senior Housing Brokerage Position
Company Information
Evans Senior Investments is a unique, full-service real estate company specializing in selling assisted living facilities and nursing homes across the country. In a class of its own, Evans Senior Investments prides itself on its stalwart commitment, extensive network, loyal confidentiality, passionate integrity and outstanding value. We are dedicated to representing sellers in the sale of their senior housing facility.
Senior Housing is a niche commercial real estate industry that demands the expertise our firm has to offer.
Desired Individual
This is an entry-level opportunity in the Senior Housing brokerage business. Evans Senior Investments will provide all the necessary tools and training to be successful.
The following characteristics are keys to success within Evans Senior Investments:
• Ethical
• Entrepreneurial
• Open to learning
• Motivated
• Goal-orientated versus dream-orientated
• Competitive
• Organized
Requirements include:
o Bachelor’s degree
o Must have integrity and a desire to be part of a team environment.
o Excellent communication and time management skills
o Strong planning/organizational skills
o Ability to multi-task
Real Estate experience is not required
The aging population and demographics has translated into a high demand for our brokerage services. Our firm believes in developing a person who is willing to learn and embrace the core competencies and values of our growing organization. This candidate will be provided with hands on training and will be working directly with upper management.
For consideration, please email resumes to info@evansseniorinvestments.com
To learn more about Evans Senior Investments, please find us on the web at www.evansseniorinvestments.com.
Company Information
Evans Senior Investments is a unique, full-service real estate company specializing in selling assisted living facilities and nursing homes across the country. In a class of its own, Evans Senior Investments prides itself on its stalwart commitment, extensive network, loyal confidentiality, passionate integrity and outstanding value. We are dedicated to representing sellers in the sale of their senior housing facility.
Senior Housing is a niche commercial real estate industry that demands the expertise our firm has to offer.
Desired Individual
This is an entry-level opportunity in the Senior Housing brokerage business. Evans Senior Investments will provide all the necessary tools and training to be successful.
The following characteristics are keys to success within Evans Senior Investments:
• Ethical
• Entrepreneurial
• Open to learning
• Motivated
• Goal-orientated versus dream-orientated
• Competitive
• Organized
Requirements include:
o Bachelor’s degree
o Must have integrity and a desire to be part of a team environment.
o Excellent communication and time management skills
o Strong planning/organizational skills
o Ability to multi-task
Real Estate experience is not required
The aging population and demographics has translated into a high demand for our brokerage services. Our firm believes in developing a person who is willing to learn and embrace the core competencies and values of our growing organization. This candidate will be provided with hands on training and will be working directly with upper management.
For consideration, please email resumes to info@evansseniorinvestments.com
To learn more about Evans Senior Investments, please find us on the web at www.evansseniorinvestments.com.
Independent Living Owners Offer Incentives during Recession
The market for assisted living and skilled nursing homes is driven by need. On the other side, independent living owners must offer a product that is highly desirable on its own accord.
A recent article from the Dallas Morning News illustrates how the recession has impacted the independent living industry. Simply put, seniors have been willing to wait out the bad times before purchasing their new community home or apartment.
With margins already thin, owners could not afford to "ride out the storm" as their consumers were. Instead, many facilities have drastically reduced prices and are beginning to offer various incentive packages alongside the lease. From restructured meal plans to purchase options, owners are utilizing whatever it takes to increase demand.
Of course this only exists as a temporary fix. Independent living owners must consistently strive to create a community environment where seniors can reside without detrimental financial burden.
Evans Senior Investments
A recent article from the Dallas Morning News illustrates how the recession has impacted the independent living industry. Simply put, seniors have been willing to wait out the bad times before purchasing their new community home or apartment.
With margins already thin, owners could not afford to "ride out the storm" as their consumers were. Instead, many facilities have drastically reduced prices and are beginning to offer various incentive packages alongside the lease. From restructured meal plans to purchase options, owners are utilizing whatever it takes to increase demand.
Of course this only exists as a temporary fix. Independent living owners must consistently strive to create a community environment where seniors can reside without detrimental financial burden.
Evans Senior Investments
July 12, 2010
Heritage Commons Receives Max Award from FHLB
In Dixon, California, a senior housing community has been awarded the maximum $1,000,000 grant through the Affordable Housing Program (AHP) sponsored by the Federal Home Loan Bank of San Francisco.
The AHP "provides grants and subsidized loans to support affordable rental housing and home-ownership opportunities." The bank sets aside 10% of its net income to be used for development and rehabilitation throughout California, Arizona, and Nevada.
Dixon, located about 30 miles Southwest of Sacramento, was the only rural community to receive the $1,000,000 award. Heritage Commons will initially include 60 units of senior housing and is planning to double the community's size in the future.
The AHP "provides grants and subsidized loans to support affordable rental housing and home-ownership opportunities." The bank sets aside 10% of its net income to be used for development and rehabilitation throughout California, Arizona, and Nevada.
Dixon, located about 30 miles Southwest of Sacramento, was the only rural community to receive the $1,000,000 award. Heritage Commons will initially include 60 units of senior housing and is planning to double the community's size in the future.
July 07, 2010
Predicting your Lifespan?
Boston University researchers have successfully determined a group of genetic variants that can predict long lifespans.
After hypothesizing that centenarians, those living to the age of 100 or older, carried certain gene characteristics, BU scientists decided to search for a "longevity gene." The results were astonishing. With nearly 80% accuracy, a doctor could predict if a person would survive to the age of 90 or older.
What does this mean for the Senior Living Industry? At the moment nothing. The tests are still not practical for the average person, as "gene kits" would cost thousands of dollars. Still, one can imagine the tremendous consequences of implementing such techniques. The moral and ethical debate has already begun, while some have turned their eyes toward its forecasting potential. Either way, waves of information will continue to surge from the field of genetics and predictive medicine, both aiding and evolving the senior living industry.
BU Scientists Identify Longevity Gene
After hypothesizing that centenarians, those living to the age of 100 or older, carried certain gene characteristics, BU scientists decided to search for a "longevity gene." The results were astonishing. With nearly 80% accuracy, a doctor could predict if a person would survive to the age of 90 or older.
What does this mean for the Senior Living Industry? At the moment nothing. The tests are still not practical for the average person, as "gene kits" would cost thousands of dollars. Still, one can imagine the tremendous consequences of implementing such techniques. The moral and ethical debate has already begun, while some have turned their eyes toward its forecasting potential. Either way, waves of information will continue to surge from the field of genetics and predictive medicine, both aiding and evolving the senior living industry.
BU Scientists Identify Longevity Gene
June 30, 2010
Evans Senior Investments Adds to their Staff
Evans Senior Investments is pleased to announce the addition of intern Justin Kman to the Evans Senior Investments team.
Justin Kman is a recent graduate of DePaul University in Chicago, Illinois. As an intern, Justin is involved in both the firm's day-to-day and long term projects. He is responsible for a variety of tasks aimed at strengthening Evans Senior Investments' national reach.
At DePaul, Justin successfully helped start-up firm Grand Overview Chicago reach viability. He was also awarded a Research Fellowship position in the United States' Senate. There Justin was responsible for the research and presentation of budget analysis for the state of Wisconsin. In the fall, Justin will be attending law school at Boston University.
Justin Kman is a recent graduate of DePaul University in Chicago, Illinois. As an intern, Justin is involved in both the firm's day-to-day and long term projects. He is responsible for a variety of tasks aimed at strengthening Evans Senior Investments' national reach.
At DePaul, Justin successfully helped start-up firm Grand Overview Chicago reach viability. He was also awarded a Research Fellowship position in the United States' Senate. There Justin was responsible for the research and presentation of budget analysis for the state of Wisconsin. In the fall, Justin will be attending law school at Boston University.
June 29, 2010
Evans Senior Investments continues to provide quality investment opportunities for potential buyers. Strengthening its national presence, Evans Senior Investments has recently listed five new facilities for sale across the nation.
New Hampshire – 2 New Listings
1) Assisted Living and Alzheimer’s Facility
- $12,000,000
2) Alzheimer’s and Memory Care Facility
- $3,500,000
South Carolina – 2 New Listings
1) Continuing Care Retirement Facility
- $14,000,000
2) Assisted Living Facility
- $4,500,000
Michigan - 1 New Listing
1) Independent and Assisted Living Facility
- $4,000,000
Interested in one of these facilities? Contact Jason Stroiman of Evans Senior Investments at (312)896-0123 or visit Evans Senior Investments’ website, www.evansseniorinvestments.com. Evans Senior Investments will continue to seek out new and valuable investment opportunities, ensuring that both sellers and buyers have access to wide-ranging markets across the country.
New Hampshire – 2 New Listings
1) Assisted Living and Alzheimer’s Facility
- $12,000,000
2) Alzheimer’s and Memory Care Facility
- $3,500,000
South Carolina – 2 New Listings
1) Continuing Care Retirement Facility
- $14,000,000
2) Assisted Living Facility
- $4,500,000
Michigan - 1 New Listing
1) Independent and Assisted Living Facility
- $4,000,000
Interested in one of these facilities? Contact Jason Stroiman of Evans Senior Investments at (312)896-0123 or visit Evans Senior Investments’ website, www.evansseniorinvestments.com. Evans Senior Investments will continue to seek out new and valuable investment opportunities, ensuring that both sellers and buyers have access to wide-ranging markets across the country.
May 27, 2010
Evans Senior Investments Hired to Sell CCRC in South Carolina
Located in South Carolina, this high-quality, continuing care, retirement community holds tremendous upside for any potential investor. As a non-for-profit senior housing community that offers a diverse range of services, it faces zero direct competition. Up to date independent living, assisted living, and nursing home amenities are available throughout the 28 acre campus.
These facilities are extremely overstaffed and mismanaged. There is a significant advantage for a potential buyer to bring these buildings to industry standard staffing levels. The buildings themselves are high-quality, above average assets, which have been consistently renovated and maintained.
The Continuing Care Retirement Community is listed at $13,900,000, and offers over 200 units/beds with an occupancy rate of over 90%.
Those interested in learning more about this CCRC should contact Jason Stroiman at Evans Senior Investments at (312)896-0123 or visit Evans Senior Investments’ website, www.evansseniorinvestments.com. Evans Senior Investments will continue to seek out new and valuable investment opportunities, ensuring that both sellers and buyers have access to wide-ranging markets across the country.
These facilities are extremely overstaffed and mismanaged. There is a significant advantage for a potential buyer to bring these buildings to industry standard staffing levels. The buildings themselves are high-quality, above average assets, which have been consistently renovated and maintained.
The Continuing Care Retirement Community is listed at $13,900,000, and offers over 200 units/beds with an occupancy rate of over 90%.
Those interested in learning more about this CCRC should contact Jason Stroiman at Evans Senior Investments at (312)896-0123 or visit Evans Senior Investments’ website, www.evansseniorinvestments.com. Evans Senior Investments will continue to seek out new and valuable investment opportunities, ensuring that both sellers and buyers have access to wide-ranging markets across the country.
May 04, 2010
April 27, 2010
Evans Senior Investments Reports Strong Rebound in Housing Market
CHICAGO (February 2010) – In what has been a tumultuous period for the global economy, the senior housing / long-term care sector remains strong, Evans Senior Investments sees 2010 as a year of positive growth for the senior housing market. Macro-level indicators suggest slight gains across the economy, and Evans Senior Investments believes that senior living will be no different.
“It is important to remember that the fundamentals within the senior housing industry are tremendously strong,” said Jason Stroiman, President of Evans Senior Investments. “Occupancies have begun to stabilize and there will be a shift of baby-boomers entering our marketplace in the future.”
As a testament to the changing market, Evans Senior Investments has secured buyers for over $40 million in senior living investments in the last 30 days.
Recently, Evans Senior Investments received five offers for a Michigan assisted living community, and six offers for a Massachusetts skilled nursing/assisted living portfolio worth $29 million.
Those interested in learning more about other assisted living and skilled nursing facilities should contact Evans Senior Investments at (312)896-0123 or visit Evans Senior Investment’s website at www.evansseniorinvestments.com.
ABOUT EVANS SENIOR INVESTMENTS
Based out of Chicago, Illinois, Evans Senior Investments was established by Jason Stroiman. Evans Senior Investments is a real estate advisory firm to seniors housing and long term care owners and operators. Evans Senior Investments specializes in selling seniors housing and long-term care communities across the country and customizes and delivers value to each investment opportunity. Evans Senior Investments takes its name from its founder being an Evans Scholar Alumni from Indiana University in Bloomington, Indiana. For more information please call 312-896-0123 or visit www.evansseniorinvestments.com.
###
“It is important to remember that the fundamentals within the senior housing industry are tremendously strong,” said Jason Stroiman, President of Evans Senior Investments. “Occupancies have begun to stabilize and there will be a shift of baby-boomers entering our marketplace in the future.”
As a testament to the changing market, Evans Senior Investments has secured buyers for over $40 million in senior living investments in the last 30 days.
Recently, Evans Senior Investments received five offers for a Michigan assisted living community, and six offers for a Massachusetts skilled nursing/assisted living portfolio worth $29 million.
Those interested in learning more about other assisted living and skilled nursing facilities should contact Evans Senior Investments at (312)896-0123 or visit Evans Senior Investment’s website at www.evansseniorinvestments.com.
ABOUT EVANS SENIOR INVESTMENTS
Based out of Chicago, Illinois, Evans Senior Investments was established by Jason Stroiman. Evans Senior Investments is a real estate advisory firm to seniors housing and long term care owners and operators. Evans Senior Investments specializes in selling seniors housing and long-term care communities across the country and customizes and delivers value to each investment opportunity. Evans Senior Investments takes its name from its founder being an Evans Scholar Alumni from Indiana University in Bloomington, Indiana. For more information please call 312-896-0123 or visit www.evansseniorinvestments.com.
###
April 22, 2010
Investment Opportunities for Assisted Living Facilities
CHICAGO (March 2010) – Evans Senior Investments announced today, three unique senior living investment opportunities across the United States.
Evans Senior Investments and its President, Jason Stroiman, have consistently shown an ability to bring a diverse range of senior investment opportunities to the marketplace. With current listings of assisted living facilities in Wisconsin, New Hampshire, and South Carolina, Evans Senior Investments maintains its already impressive national presence in the senior housing industry.
“Being an advisor to senior housing and long-term care owners across the country requires a vast network in every state, said Jason Stroiman, President of Evans Senior Investments. “Over the years, we have been able to form relationships with owners, managers, lenders, accountants and attorneys in nearly every state. This has allowed us to successfully sell communities throughout the country.”
The first deal in Wisconsin is an institutional quality physical plant with 100% Occupancy. It is listed at $15,200,000, with a 2009 EBITDA of $1,400,000.
The second facility for sale is an assisted living facility in South Carolina. The facility is 65% occupied, which leaves room for tremendous upside. It is listed at $4,500,000.
Lastly, Evans Senior Investments has listed a unique Assisted Living and Alzheimer’s facility in New Hampshire. It is listed at $11,750,000, with a 2009 EBITDA of $1,100,000 and a capitalization rate of 9.5%.
Those interested in learning more about these assisted living facilities should contact Evans Senior Investments at (312)896-0123 or visit Evans Senior Investments’ website at www.evansseniorinvestments.com. Evans Senior Investments will continue to seek out new and valuable investment opportunities, ensuring that both sellers and buyers have access to wide-ranging markets across the country.
ABOUT EVANS SENIOR INVESTMENTS
Based out of Chicago, Illinois, Evans Senior Investments was established by Jason Stroiman. Evans Senior Investments is a real estate advisory firm to seniors housing and long term care owners and operators. Evans Senior Investments specializes in selling seniors housing and long-term care communities across the country and customizes and delivers value to each investment opportunity. Evans Senior Investments takes its name from its founder being an Evans Scholar Alumni from Indiana University in Bloomington, Indiana. For more information please call 312-896-0123 or visit www.evansseniorinvestments.com.
###
Evans Senior Investments and its President, Jason Stroiman, have consistently shown an ability to bring a diverse range of senior investment opportunities to the marketplace. With current listings of assisted living facilities in Wisconsin, New Hampshire, and South Carolina, Evans Senior Investments maintains its already impressive national presence in the senior housing industry.
“Being an advisor to senior housing and long-term care owners across the country requires a vast network in every state, said Jason Stroiman, President of Evans Senior Investments. “Over the years, we have been able to form relationships with owners, managers, lenders, accountants and attorneys in nearly every state. This has allowed us to successfully sell communities throughout the country.”
The first deal in Wisconsin is an institutional quality physical plant with 100% Occupancy. It is listed at $15,200,000, with a 2009 EBITDA of $1,400,000.
The second facility for sale is an assisted living facility in South Carolina. The facility is 65% occupied, which leaves room for tremendous upside. It is listed at $4,500,000.
Lastly, Evans Senior Investments has listed a unique Assisted Living and Alzheimer’s facility in New Hampshire. It is listed at $11,750,000, with a 2009 EBITDA of $1,100,000 and a capitalization rate of 9.5%.
Those interested in learning more about these assisted living facilities should contact Evans Senior Investments at (312)896-0123 or visit Evans Senior Investments’ website at www.evansseniorinvestments.com. Evans Senior Investments will continue to seek out new and valuable investment opportunities, ensuring that both sellers and buyers have access to wide-ranging markets across the country.
ABOUT EVANS SENIOR INVESTMENTS
Based out of Chicago, Illinois, Evans Senior Investments was established by Jason Stroiman. Evans Senior Investments is a real estate advisory firm to seniors housing and long term care owners and operators. Evans Senior Investments specializes in selling seniors housing and long-term care communities across the country and customizes and delivers value to each investment opportunity. Evans Senior Investments takes its name from its founder being an Evans Scholar Alumni from Indiana University in Bloomington, Indiana. For more information please call 312-896-0123 or visit www.evansseniorinvestments.com.
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April 07, 2010
Sign up for Evans Senior Investments Newsletter
The ESI quarterly newsletter will keep you up to date with the current senior housing market as well as new featured deals. Join along with other owners and operators of senior housing in receiving ESI's brief quarterly newsletter E-mailed directly to you. Sign up today to get helpful senior housing information and timely article links. Sign up below.
March 16, 2010
South Carolina Assisted Living Facility for Sale
60 Unit Assisted Living Facility available in South Carolina. Built in 1997 with additions in 2008, the asking price is $4,500,000 or $69,231 per bed. Please contact Jason Stroiman for more details.
(312) 896-0123
http://www.evansseniorinvestments.com/
(312) 896-0123
http://www.evansseniorinvestments.com/
March 02, 2010
Up Close with Stroiman of Evans Senior Investments
From Globe St.com:
In today’s environment, getting deals done is a difficult task, regardless of the sector you’re working in. Buyers are hesitant to shell out cash, particularly at today’s prices.Sellers--at least, those parties willing to part with their properties--won’t budge on pricing. And even if the two agree on a property’s value, there aren’t many lenders around who will easily finance the deal.
That’s left many investment sales brokers around the country with a lot of free time on their hands. So if a broker were to venture out on his own to establish a new investment sales services company, more than a few observers would give him the side-eye. But if you ask Jason Stroiman about it, he’d tell you now is certainly the best time to launch a new company--particularly if the sector you focus on is a strong one.
That’s because Stroiman recently kicked off Evans Senior Investments, a Chicago-based real estate firm that specializes in selling senior housing and long-term care communities across the country. With more than a decade of experience in the senior living & long-term care industry, Stroiman was previously with Senior Living Investment Brokerage Inc., where he listed and sold senior housing assets across the country.
Stroiman, who over the past three years has exclusively listed and sold over $250 million of senior housing assets and analyzed, toured and valued more than $1 billion in senior housing and investments in over 45 states, will serve as president of the new company. He has tapped Ashley Markwart to serve as a senior associate at ESI. She will handle the underwriting and valuation of proposals, as well as the marketing of senior housing assets across the country. For her part, Markwart has had a role in over $100 million in successful business transactions and has underwritten and valued over $600 million in
senior living assets nationwide.
Stroiman recently chatted with GlobeSt.com about his new venture, its strategy and the current state of and future prospects for the seniors housing industry.
GlobeSt.com: Talk a bit about when and why you decided to venture out on your own.
Stroiman: We launched ESI earlier this month. We’re going to grow it into a multiple service advisory firm, primarily in the brokerage arena, representing sellers of assisted,independent and skilled nursing facilities around the country. We’re just looking to create a niche within the senior housing industry. That’s our business model over the short term.
GlobeSt.com: How about the long run?
Stroiman: In the long term, we certainly hope to grow into multiple facets of the investment side of the business. Eventually, we’d like to get into the debt and equity side of the business, whether it’s placing debt or equity. We’d also like to see a valuation component—more of your traditional investment banking model. So at this point, it’s strictly brokerage, but we hope to evolve that over the next 12 to 18 months.
GlobeSt.com: Why did you think now is a good time to launch your own
company?
Stroiman: In the senior housing environment, there is a place for a premier brokerage firm to operate on a national level. There are a lot of mom-and-pops and regional players that are either selling or acquiring from other regional and smaller players, and there needs to be an intermediary between the two. And seniors housing is such a finite, niche industry that it’s difficult for your traditional brokerage company to capture the entireaudience. Especially on the skilled nursing side--there’s Medicaid, Medicare and so many other moving parts to the transaction. And in the assisted living business, confidentiality is so key--you have a building with elderly people living in it, and the transfer of ownership is very delicate and has to be a strategic, thought-out process.
GlobeSt.com: What sort of competition do you have in the market, in terms of other organizations that offer the same services as you?
Stroiman: There are about four major competitors in the country that currently have a senior living component in their brokerage business. But given the size of the baby boomer generation, the pure number of buildings is going to grow exponentially over the next 15 to 20 years. And a lot of the companies out there tend to focus on certain regions or local markets, and I think there’s a real need for a national brokerage firm. In the seniors housing space, economies of scale are so important. It can actually be difficult to operate one building. For some of these groups, their holdings can grow to six, 10 or 15 communities, and it certainly helps their operations as well as their bottom line.
GlobeSt.com: So, how do you intend on standing apart from the pack?
Stroiman: One of the profiles of our mission statement is to have customized solutions for our clients. I don’t think there’s a cookie cutter way to sell a building or achieve someone’s investment objectives. That’s what we’re going to do that’s going to be different than a lot of other brokerage firms. We’re going to customize our product to each individual seller, whether we do things very confidentially, market it on a national basis, etc.
GlobeSt.com: What is your typical client profile? Who could benefit the most from the services you offer?
Stroiman: My typical client is looking to divest of a single community or a portfolio of communities, anywhere between $5 million and $100 million. It’s primarily private players; basically, the smaller, regional group that is looking to sell to another regional or mid-sized company.
GlobeSt.com: You’re going national right from the get-go. Most new firms tend to begin locally or regionally and eventually expand across the country.
Stroiman: As a result of my career in the business, I have relationships and a professional network of seniors housing owners, operators, lenders, attorneys, appraisers, accountants and the like in almost every state. I’ve been doing this for almost a decade, and have been working on a national level for the past five years or so.
GlobeSt.com: What’s the biggest challenge you face as an investment sales
broker in the senior living sector?
Stroiman: Absolutely financing, no question about it. For us, it’s a matter of being very selective with the buyers we advise our clients on, that the buyers have a go-to lender that they have a strong relationship with, or have the ability to get the deal closed.
GlobeSt.com: The investment arena is pretty stagnant now; there aren’t many properties moving. It seems like most people in the industry are concerned about values, financing and where the market’s going in general, so there’s a lot of hesitancy to make a move. Deals just aren’t happening. Is that of any concern to you, especially since you’re venturing out with a new endeavor?
Stroiman: I think it’s two-fold. For one, the seniors housing business has been somewhat sheltered from the overall real estate environment. If you look at all the aspects of the property types, seniors housing has certainly been one of the least affected by the downturn. It’s a nightmare out there for office, retail or multifamily. Furthermore, from a personal level, I believe that a slower, down market is a great time to grow. It’s a great time to go out there and market yourself and your brand name, and be in a position where, when the market does turn around in 2010, we can be the
premier senior housing brokerage company in the country.
GlobeSt.com: What sort of deal volume or business volume are you hoping for, say, within the next few months to a year?
Stroiman: There are several transactions we’re hoping to get done by year’s end.It’s very important for ESI, and it’s part of my business model, to target achievable transactions that can actually get closed based on the environment. In 2010, our realistic goal is to have 15 to 20 transactions closed, with the average size being $10 million to $30 million. The properties we’re looking at are about 50 to 125 units per facility.
GlobeSt.com: How have you seen the senior living business change over past
couple of years, and where do you see it going, overall?
Stroiman: We’re still getting deals done. What I’m seeing out there is the smaller, local banks are still lending and, most importantly, the traditional relationship lenders are still lending. In our space compared to other real estate sectors, lenders lend on operators, not the buildings. So those that have strong relationships with lenders, and where the lender believes in the borrowers operating model, could still get good financing in the healthcare arena. Healthcare is so operator-specific that the relationship lenders are still active. In 2010, we’re going to see a big shift and much more transactions are going to get done than in 2009. And if you look into 2011 to 2020, I think it’s just going to skyrocket. The sheer number of available properties out there is going to increase drastically and occupancies are going to start stabilizing. I think it’s going to be a great space to be in for the next 10 to 15 years.
February 25, 2010
Evans Senior Investments - About Us
Our blog will be dedicated to new developments both within our senior investment firm and within the senior housing industry. First we would like to take the time to introduce our company and our commitment to our clients.
Evans Senior Investments is a unique, full service company specializing in selling senior housing and long-term care communities across the country. In a class of its own, Evans Senior Investments prides itself on its stalwart commitment, extensive network, loyal confidentiality, passionated integrity and outstanding value. The team at Evans Senior Investments fully commits itself to each client and is not satisfied until all of their needs our met.
Be sure to take a look at our website for more detailed information about our company and how we can help you throughout the investment process.
Evans Senior Investments
Also feel free to contact us with any specific questions you may have.
We will be updating our blog on a regular basis check in to find out the news and notes on Evans Senior Investments.
Evans Senior Investments is a unique, full service company specializing in selling senior housing and long-term care communities across the country. In a class of its own, Evans Senior Investments prides itself on its stalwart commitment, extensive network, loyal confidentiality, passionated integrity and outstanding value. The team at Evans Senior Investments fully commits itself to each client and is not satisfied until all of their needs our met.
Be sure to take a look at our website for more detailed information about our company and how we can help you throughout the investment process.
Evans Senior Investments
Also feel free to contact us with any specific questions you may have.
We will be updating our blog on a regular basis check in to find out the news and notes on Evans Senior Investments.
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