Evans Senior Investments (ESI) recently orchestrated the stock sale of a dual-property skilled nursing portfolio in southwest Louisiana to Tutera Senior Living and Healthcare, which will operate the facilities as well.
Constructed in 1970 and 1972 and located within 10 miles of each other, the communities have a combined total of over 350 skilled nursing beds, according to ESI. Pre-Covid, the portfolio had a 72% occupancy rate.
However, the onset of the pandemic and subsequent Hurricane Laura led to significant renovations for both facilities. Post-reopening, the facilities faced challenges in reaching their previous census levels.
Tennessee-based non-profit changes hands
The Tennessee-based Trousdale Foundation, operating through Trousdale Living Communities, Inc., sold its skilled nursing facility in Madisonville to a New York-based provider.
The facility, built in 1982 with 81 licensed beds, stands on four acres approximately 10 miles south of Sweetwater Hospital. Blueprint facilitated the sale.
According to Blueprint, the facility has experienced consistent census growth and benefited from a recent Medicaid rate increase, resulting in a positive cash flow.
The transaction was valued at $150,000 per licensed bed.
New York Based Pleasant Valley Manor sold to Outcome Healthcare
Monroe County’s nursing home, Pleasant Valley Manor, is being sold to Outcome Healthcare, a family-owned company, after 100 years of county-run operations.
It was reported that the sale was driven by rising operational costs and financial challenges post-COVID-19, and that Outcome Healthcare plans to maintain existing staff and services.
