ESI Brokers $10M Sale of Courtland Manor in Dover, Delaware

by Jeff Shaw

DOVER, Del. — Evans Senior Investments (ESI) has arranged the sale of Courtland Manor, a skilled nursing community in Dover. 

An independent owner-operator sold the asset for $10 million, or $142,857 per bed. The buyer was a New York-based owner-operator.

Since its inception in 1986, Courtland Manor has been under the ownership and operation of the seller. It features 70 licensed beds and a five-star CMS rating.

Courtland Manor has historically maintained high occupancy rates, boasting figures in the high 80 percent range prior to COVID-19. Despite the challenges posed by the pandemic, the community’s occupancy rate never fell below 70 percent, according to ESI. The property was 80 percent occupied when it was put on the market, generating $6.3 million in revenue and a net operating income of $320,000.

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