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RAPID CITY, S.D. — Evans Senior Investments (ESI) has arranged the sale of Somerset Court Rapid City, an 87-unit assisted living community in Rapid City, located in the western portion of the state.
An independent owner-operator sold the community to a North Dakota-based private REIT for $7.1 million, or $81.600 per unit.
Built in 2004, Somerset Court is located close to the downtown area of Rapid City. At the time of sale, the community averaged 85 percent occupancy.
ESI represented the seller in the transaction.