Sold for $20,050,000 or $213,000 per unit in an asset sale structure.
Built in 2017, The Waterford in Hermitage is located close to the downtown area of Nashville, Tennessee. At time of sale, the community had finalized its initial lease-up in occupancy and was 94% occupied. The facility boasts several innovative resident programs as well as an excellent dining program led by their executive chef.
ESI represented the seller, an independent owner/operator, in the transaction. Jason Stroiman, President & Founder of ESI, commented “The Waterford in Hermitage presented an exciting opportunity for the buyer to institute economies of scale and professional management at this independently owned community.”
The buyer was a regional owner-operator based in North Carolina.