Sodalis at Stone Oak, a class-A property constructed in 2017, features 42 assisted living and 21 memory care units. The amenity-forward, modern seniors housing community was 95% occupied and 100% private pay at the time of marketing. In January 2022, the operator implemented a 4% rate increase for all current residents, and successfully implemented another lease renewal increase of 6% in January of 2023.

Evans Senior Investments ran a competitive marketing process attracting several compelling offers for their client. Given their success with generating strong investor returns while maintaining a high quality of care for residents, the current operator Sodalis Senior Living ultimately prevailed as the buyer.

“This sale not only highlights the property's class-A construction and amenity-forward design but also reflects the affluent market for seniors housing today,” commented Hank Fuller, Senior Associate at ESI.