LAS VEGAS — Evans Senior Investments (ESI) has arranged the sale of Vintage Park at San Martín, a 30-unit memory care community in Las Vegas.
A publicly traded company sold the property to a private equity firm with a Nevada footprint for $2.1 million, or $70,000 per unit.
Built in 2010, Vintage Park at San Martín features both one- and two-bedroom units with a total of 60 beds. The community is located five miles southwest of downtown Las Vegas. At the time of listing, the community was 61 percent occupied.
“Vintage Park at San Martín’s low occupancy will provide the opportunity for the new buyer to generate value-add type returns and allowed the seller to exit a legacy acquisition,” says Jason Stroiman, president of ESI.