LAKE CHARLES, La. — Evans Senior Investments (ESI) has arranged a stock sale for a two-property skilled nursing portfolio in southwest Louisiana. The transaction was completed on behalf of an independent owner.
Built in 1970 and 1972 and situated just 10 miles from one another in the Lake Charles area, the two communities comprise a total of 350 beds. Prior to the COVID outbreak, the portfolio maintained an average occupancy rate of 72 percent.
A few months into the pandemic, Hurricane Laura devastated the area, causing both communities to require significant renovations. Since reopening, the properties have faced difficulties in achieving pre-pandemic and pre-hurricane census levels. At the time of marketing, the communities were in lease up from the substantial reconstruction and renovation following the hurricane.
Tutera Senior Living and Healthcare, the existing operator, acquired the assets for an undisclosed price.