GRAPEVINE, Texas — Evans Senior Investments (ESI) has arranged the sale of Dancing River, an 84-unit assisted living and memory care community in Grapevine, a suburb of Dallas that includes Dallas/Fort Worth International Airport.
An institutional private equity group sold the property to Inspired Healthcare Capital for $25 million, or $297,619 a unit. ESI represented the seller, while Inspired Healthcare Capital
Built in 2010, Dancing River went from being 93 percent to 70 percent occupied during the pandemic, but census creeped back up to pre-pandemic levels during the marketing process.
“With the community recently recovering occupancy back to 93 percent in just the latest month prior to marketing, the Evans Senior Investments team was able to showcase the potential upside for a new ownership group by forecasting a 5 percent rental rate increase,” says Hank Fuller, senior associate at ESI.
The post ESI Brokers $25M Sale of a Dancing River Assisted Living Community in Grapevine, Texas appeared first on Seniors Housing Business.
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