ESI Negotiates $9.7M Sale of Cherry Tree Nursing Center in Uniontown, Pennsylvania

UNIONTOWN, Pa. — Evans Senior Investments (ESI) has arranged the sale of Cherry Tree Nursing Center, a 120-bed skilled nursing facility in Uniontown, approximately 45 miles south of Pittsburgh.

An independent owner-operator exiting the long-term care industry sold the property for $9.7 million. The buyer was an Ohio-based owner-operator looking to expand in Pennsylvania.

Built in 1995, the community features all private or semi-private rooms. Despite the contemporary design, the community was not profitable at the time of marketing the offering, with census averaging 72 percent contributing to only $50,000 in net operating income. The new buyer hopes to reduce expenses as a result of economies of scale, as the seller only had one skilled nursing facility in its portfolio.

“Cherry Tree Nursing Center presented a great opportunity for a new ownership group with operational expertise and synergies in the state of Pennsylvania to place an emphasis on increasing skilled census and to improve upon the expense structure as this community is folded into their portfolio,” says Jason Stroiman, president and founder of ESI.