Having been constructed in different phases from 1946 through 1985, the community received two significant renovations in 2013 and 2019. Consisting of 47 private rooms, the community was able to operate with an above average quality mix. The community was 70% occupied at the time of marketing, contributing to breakeven net operating income.
ESI was actively involved throughout the entire transaction process utilizing its resources to assist the buyer and their lender during the due diligence process. Working with both the seller and buyer, ESI navigated pre-closing obstacles which allowed the deal to stay on track.
This was the buyer’s first acquisition in the skilled nursing space, although they were involved in the operations for a regional owner/operator for years.