The portfolio comprised 13 communities located in Illinois and Missouri, featuring over 1,600 licensed beds. The lease consisted of a ten-year term with a purchase option.

Evans Senior Investments ran a competitive and highly confidential process yielding multiple offers, ultimately selecting a regional Midwest group as the tenant. Given the size of the portfolio and value-add potential, it was an ideal transaction for the tenant and landlord. 

“This portfolio represents Evans Senior Investments’ ability to secure a tenant for a portfolio that was a turnaround, given the tight labor market and inflation pressure on expenses” commented Hank Fuller, Director at ESI.

Many independent owner-operators who are not yet ready to sell should explore the advantages of leasing to a third-party operator. This option offers many financial and operational benefits, including avoidance of capital gains tax, securing passive income, and alleviating in-place operating losses. Evans Senior Investments offers tenant advisory as a core service, and can work with any owner to create a tailored solution that will help them succeed.