June 13, 2023
Sodalis at Stone Oak Assisted Living and Memory Care Community
ESI seals the deal on the sale of Sodalis at Stone Oak, an assisted living and memory care community in San Antonio, Texas.
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.