Evans Senior Investments Sells South Carolina CCRC for $14MM

Evans Senior Investments (ESI) has announced the sale of Springfield Place and J.F. Hawkins, a Continuing Care Retirement Community (CCRC) located in Newberry, South Carolina for $11,300,000 or $51,131 per unit at an 8.2% Capitalization Rate. The facilities sold in the CCRC were J.F. Hawkins, a Skilled Nursing Facility containing 52 Units and 98 Beds, and Springfield Place which is a Senior Housing Community containing Independent Living, Assisted Living, Skilled Nursing and Alzheimer’s care.  The two facilities were owned by Newberry county.

“The county was extremely apprehensive about the sale, and was concerned about finding the ‘right buyer’ to take over the facilities.  While maximizing the price is always our first priority, it was equally important to find a buyer that would be a good fit for the local community,” said Jason Stroiman, President of Evans Senior Investments.