ESI Arranges the Sale of a Senior Living Community in California
FEBRUARY 1, 2020
Madera, California - February 1, 2020 - Evans Senior Investments (ESI) successfully represented the sale of Cedar Creek Senior Living, a 112-unit independent living, assisted living, and memory care community.
Originally built in 2005, Cedar Creek Senior Living is located 24 miles north of Fresno, California. During the twelve months prior to sale, the community averaged 87.6% occupancy and was 100% private pay.
ESI represented the seller, an independent owner, in the transaction. Jeremy Stroiman, CEO of ESI, commented “Cedar Creek Senior Living presented a strategic opportunity for a regional operator to apply additional synergies to improve the expense structure as this community is folded into their portfolio”.
The buyer was a California-based REIT.