June 8, 2023
Sale of a Skilled Nursing Community in New York
ESI takes a bite out of the big apple after successfully arranging the real estate sale of a skilled nursing community on behalf of an independent owner-operator.
Located 15 miles from Manhattan, the community is nestled in a lush wooded enclave off New Rochelle's gateway to the Long Island Sound. The facility was originally constructed in 1965 and is licensed for 60 beds. After successfully owning and operating the community for over 30 years, the seller engaged the Evans Senior Investments team when they decided to exit the long-term care industry.
ESI ran a confidential marketing process to a handpicked group of skilled nursing buyers and presented the client with several competitive offers in a short time period. A New York-based company purchased the facility with the approval of the operations still pending.
“Evans Senior Investments navigated the rigorous regulatory environment in New York to close the transaction prior to the transfer of operations. The licensure approval process in New York historically takes over 18 months to complete,” commented Hank Fuller, Senior Associate at ESI.