ARVADA, COLO. — Evans Senior Investments (ESI) has arranged the sale of The Kipling Meadows, a 120-unit independent living community in the first-ring Denver suburb of Arvada.
Built in 2008 with a renovation in 2018, Kipling Meadows averaged 86 percent occupancy in the three months prior to sale.
“With the community recently recovering occupancy back to 90 percent in just the latest month, the Evans Senior Investments team was able to showcase the potential upside for a new ownership group by forecasting a 6 percent rental rate increase,” says Hank Fuller, senior associate with ESI.
ESI represented the seller, an institutional private equity group, in the transaction. The buyer was regional operator looking to expand in Colorado. The price was not disclosed.