NASHVILLE, Tenn. — Evans Senior Investments (ESI) has arranged the sale of The Waterford in Hermitage, a 94-unit assisted living and memory care community in the Hermitage neighborhood of Nashville.
An independent owner-operator sold the property to a North Carolina-based regional owner-operator for $20.1 million, or approximately $213,000 per unit.
Built in 2017, The Waterford in Hermitage is located close to the downtown area of Nashville. At time of sale, the community had finalized its initial lease-up and was 94% occupied.
ESI represented the seller in the transaction. “The Waterford in Hermitage presented an exciting opportunity for the buyer to institute economies of scale and professional management at this independently owned community,” says Jason Stroiman, president and founder of ESI.