Firm helps broker sale of two senior facilities in New York
A Chicago-based real estate firm recently helped broker the sale of two senior care facilities in Stamford, NY.
Evans Senior Investments represented the seller, a local nonprofit, which unloaded its Robinson Terrace properties, including a 120-bed skilled nursing and 55-unit assisted living facility. At the time of the sale, both facilities had averaged occupancy north of 90%, but were not turning a profit, according to an announcement from ESI last week.
The buyer, a for-profit regional owner and operator that was not named in the announcement, plans to provide the same level of care to the two facilities' residents, while also paying a “premium transaction price.”
“The Robinson Terrace Portfolio presented an exciting opportunity for a new owner/operator with expertise in skilled nursing and assisted living in the state of New York to increase the portfolio's profitability,” Jason Stroiman, president and founder of ESI, said in a statement.