August 12, 2022
Sale of a Connecticut Senior Living and Skilled Nursing Portfolio
Evans Senior Investments successfully arranged the sale of a three-property senior living and skilled nursing portfolio, located just outside of Hartford, Connecticut.
The portfolio features 114 independent living units and 246 skilled nursing beds, within a 10-mile proximity of each other. Prior to the COVID-19 pandemic, the communities were 92%+ occupied, and featured a strong post-acute rehab census mix within the skilled nursing communities.
Jason Stroiman, President and Founder of ESI, commented “The acquisition presented a great opportunity for a new operator to grow their presence in the state of Connecticut and apply additional synergies as this community is folded into their portfolio.”
The buyer was an East Coast owner-operator of skilled nursing communities.
Evans Senior Investments continues to observe the difficulty of operating long term care assets in today’s marketplace with rising labor costs and the increasing need for compliance oversight. The continued crisis related to the COVID-19 pandemic will likely intensify the struggles of independent owners as the crisis strains the day to day operations at facilities nationwide.