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NIC Conference

Attending NIC?
Come and Meet the Evans Senior Investments Team!

Washington, D.C.
September 21-23
Call or email to schedule a meeting
630.885.4834 | esi@evansseniorinvestments.com

Evans Senior Investments Sells Ohio Assisted Living Facility

Evans Senior Investments (ESI) is excited to announce the sale of The Residence of Chardon, an Assisted Living Facility located in Chardon, Ohio which is approximately 40 miles northeast of Cleveland, Ohio.

This 42 unit Assisted Living Facility was built in 2000 and sits on 5.67 acres of land in Geauga County. At the time of the sale they were 100% occupied and their rents ranged from $3,600 – $4,200. The buyer was a regional operator that utilized funds from a 1031 exchange for the equity and Citizens Bank for the debt. “Without the assistance of Evans Senior Investments – I could not have completed this unique transaction; Jason Stroiman is a trustworthy, dependable, and intelligent broker that provides unmatched value to his clients.” Anne-Marie Van der Velde, “This is my second transaction that I’ve completed with Evans Senior Investments in 2011.”

Residence of Chardon was a stabilized asset but the buyer believes there are expense savings with reducing labor costs and other economies of scale. In addition, there is extra land to expand the facility by 35 units, the owner intends on breaking ground next spring. Jason Stroiman of Evans Senior Investments handled the transaction.

Evans Senior Investments Announces Expansion and Appoints Managing Partner

CHICAGO (May 2011) --- Evans Senior Investments (ESI) is excited to announce today the appointment of Jeremy Stroiman as Managing Partner. Jeremy will lead the ESI office located in Boulder, Colorado.

ESI, a real estate firm with headquarters out of Chicago, Illinois, specializes in selling senior housing and long-term care communities across the country. ESI prides itself on customizing and delivering value to each investment opportunity.

As Managing Partner and leader of the Evans Senior Investments’ Boulder, Colorado office, Jeremy Stroiman brings a track record of sales and marketing success to the ESI team. In his new role, Jeremy will leverage his experience and relationships to expand ESI’s presence across the nation. Prior to ESI, Jeremy spent numerous years at Covidien, a publically traded company and a medical device industry leader, as the US Director of Sales Operations.

“We are thrilled to welcome Jeremy to the ESI team. With his extensive sales and marketing leadership experience, I am confident that he will continue to ensure ESI’s proven commitment to provide significant value and responsibility to our clients,” says Jason Stroiman, President and Founder of ESI. “Furthermore, as identical twin brothers and business partners, we are excited to continue growing ESI’s footprint across the country and our goal of being the nation’s leading seniors housing brokerage firm.”

ESI’s most recent closing was Springfield Place & J.F. Hawkins, a CCRC located in Newberry, South Carolina. The buildings were owned by the county and located just blocks from each other. The sale price was $11,300,000 or $51,131 per bed/unit at a capitalization rate of 8.2%. In the last 90 days, ESI has closed over $25,000,000 in seniors housing transactions and has put two additional communities under contract that will close in the 2^nd quarter.

Interviews, comments and photos available upon request.

National Real Estate Investor

Evans Senior Investments was featured in National Real Estate Investor (NREI) for completing a County-Owned transaction. Visit (NREI) to view their article, "Cash-Strapped Counties Increasingly Look to Sell Government-Owned Seniors Housing Facilities"

What is Your Exit Strategy?

Evans Senior Investments has had an extremely busy 1st Quarter and traveled to 16 states. One of their stops was New Orleans, Louisiana for the 2011 AHCA Independent Owner Conference where Jason Stroiman spoke on, "What is Your Exit Strategy?" Click below to view excerpts from his presentation:

2011 AHCA Conference: What is Your Exit Strategy? from Evans Senior Investments on Vimeo.

South Carolina CCRC Sold

Evans Senior Investments (ESI) is pleased to announce today the sale of Springfield Place and J.F. Hawkins, a CCRC located in Newberry, South Carolina.

The facilities were owned by Newberry County and located just blocks from each other. J.F. Hawkins is a Skilled Nursing Facility containing 52 Units and 98 Beds, while Springfield Place is a Senior Housing Community containing Independent Living, Assisted Living, Skilled Nursing and Alzheimer’s care.

“The county was extremely apprehensive about the sale, and was concerned about finding the ‘right buyer’ to take over the facilities. While maximizing the price is always our first priority, it was equally important to find a buyer that would be a good fit for the local community,” said Jason Stroiman, President of Evans Senior Investments.

Evans Senior Investments was able to bring Class-A buyers to the table who were capable of handling the transaction confidentially. The financial history of these facilities made it very difficult to finance in today’s capital markets, so it was necessary to find buyers that had the financial wherewithal to fund a turnaround transaction. The facility sold at $11,300,000 or $51,131 per unit at an 8.2% Capitalization Rate.

Wisconsin Opportunity

Evans Senior Investments has been hired to sell two assisted living facilities in Northern Wisconsin. The facilities are stabilized and only 40 miles apart from each other. If you would like more information please contact Jason Stroiman. (312)896-0123

2011 Kicks off With A Great Start

Evans Senior Investments Sells $10,750,000 Community

Some highlights from the transaction include:

* $155,797 per unit
* 14 interested buyers
* All cash transaction
* High acuity memory care/assisted living facility
* 10.2% Capitalization Rate
* 70 days between the execution of the LOI and closing

Evans Senior Investments Features Two New Opportunities

Although Evans Senior Investments have been representing groups across the country, with the addition of David Dobek to the team, Evans Senior Investments is beginning to make more of a presence in the Western United States. “We’ve made a strategic push west of the Mississippi not only to identify new clients but we’ve also found a large quantity of new, aggressive buyers. This has increased our ability to bring buyers to bid on properties not only on the West coast but around the country,” says Jason Stroiman, President of Evans Senior Investments.

The first opportunity is an assisted living facility in Utah. The building is less than one hour from the Salt Lake City Airport which is extremely convenient for an out of state buyer. The price is less than the replacement cost and is based on a 10% capitalization rate. The physical plant was extremely overbuilt, and it is considered institutional in quality.

The second facility for sale is a skilled nursing facility in Oklahoma. The facility has over 200 beds and has recently renovated their Medicare wing. The asking price is $18,000 per bed because the facility is currently in receivership and the real estate owner is looking to liquidate his investment.

Those interested in learning more about these featured 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.