INDIANA, Pa. — Evans Senior Investments (ESI) has arranged the sale of Beacon Ridge, a skilled nursing community in the small borough of Indiana, approximately 50 miels east of Pittsburgh.
Beacon Ridge opened its doors in the 1970s and has since completed two major renovation projects. The community is licensed for 118 skilled nursing beds and offers a unit mix, including private units, semi-private units, and three-bed wards. At the time of marketing,
Beacon Ridge was 63% occupied and operating with a negative net operating income at the time of sale. Prior to the pandemic, the community maintained stabilized occupancy rates in the 80 percent range for over 12 consecutive months.
After the owner defaulted on its existing bond debt, ESI was hired by the nonprofit seller to market the community for sale as part of the Section 363 bankruptcy process. Duane Morris LLP assisted in the process.
The buyer and price were not disclosed.