Evans Senior Investments represented the sale of Bowling Green Retirement Village, a 138-unit, 100-percent private pay seniors community in Bowling Green, Kentucky, for $10.4 million or $75,362 per unit in an asset sale structure.
Built in 1983, Bowling Green Retirement Village is located close to the downtown area of Bowling Green. At the time of sale, the community averaged 93 percent occupancy in the prior 12 months. Of the 138 units at the facility, 46 are dedicated to assisted living and 92 for independent living. All units at the facility are licensed for assisted living care.
ESI represented the seller, an independent owner/operator, in the transaction.
The buyer was a private equity firm based in New York City. Charter Senior Living will operate the facility post-sale.