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.