Evans Senior Investments (ESI) is excited to announce today the sale of The Vistas in Longmont.
Located in Longmont, Colorado, the transaction totaled $28,000,000 and is the third transaction to come from the Boulder, Colorado office since opening less than nine months ago. The Vistas in Longmont is a 124 unit Senior Housing Community with Independent and Assisted Living, as well as a secure Memory Care wing.
Built in 2009 by a local developer, this facility is of institutional quality and was sold at an aggressive price. ESI was able to procure competitive offers from ten different groups, but ultimately was sold for $28 Million, or $225,000 per unit. The Capitalization Rate was below 6% with a 2011 annualized EBITDA near $1.5 million.
"This was a direct correlation from two strategic business decisions: to open an office in Boulder expanding our presence West of the Mississippi and continue exceeding our clients expectations by bringing aggressive buyers from across the country to every deal," says President, Jason Stroiman.
