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March 31, 2023

Sale of a Skilled Nursing Community in New Mexico

ESI arranged the sale of a skilled nursing facility on behalf of a southwest regional operator.


The purchase price was $16,500,000 or $163,366 per bed. The asset was located in the northwestern part of New Mexico and included 101 skilled nursing beds.

Despite the community being located in a rural market, the asset maintained an occupancy average of 83% during the marketing process. Upon closing, the community was 95% occupied. Accompanied with a strong Medicaid rate increase implemented in July 2022, the asset maintained a strong net operating income.

“Evans Senior Investments was able to showcase the expense savings with a new regional operator that would achieve over $500,000 using our proprietary database of comparable nursing homes across the country” Commented Hank Fuller, Senior Associate at Evans Senior Investments.

ESI ran a selective marketing process to a group of skilled nursing buyers and secured 5 offers within 35 days of entering the market. A West-coast based group that was looking to make their first acquisition in the state of New Mexico was ultimately selected as the buyer.

“ESI leveraged its rolodex of buyers that are still actively looking to grow in today’s market to complete this transaction,” commented, Brendan DeSilvia, an associate at Evans Senior Investments.

ESI worked through all stages of the transaction including the transition process to ensure an on-time, successful closing with the rapidly changing lending environment. The transaction closed expeditiously with the target date set forth in the letter of intent.

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