ESI Arranges $12.8M Sale of Community in San Luis Obispo, California

SAN LUIS OBISBO, Calif. — Evans Senior Investments (ESI) has arranged the sale of The Manse on Marsh, an 87-unit independent living and assisted living community in San Luis Obispo.

An independent owner-operator sold the property to a California-based owner-operator for $12.8 million. The buyer is a turnaround specialist, and acquired the property as a value-add opportunity.

The property was partially encumbered by a ground lease and included multiple cottages that were rented to residents at the community. Both the fee simple interest and leasehold interest were transferred to the buyer with the transaction.

At the time of the sale, the community was 75 percent occupied and 100 percent private pay.

Brad Goodsell, Jason Punzel, Jeff Binder and Vince Viverito of Senior Living Investment Brokerage were also brokers involved in the transaction.