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EVERETT, WASH. — Evans Senior Investments (ESI) has arranged the sale of Garden Court Retirement Community, a 148-unit independent living and assisted living property in Everett.
A national private equity firm acquired the property from an independent owner-operator for $50.5 million, or approximately $341,000 per unit.
Built in 2002, Garden Court Retirement Community is located 13 miles north of Seattle between the downtown areas of Everett and Lynwood. At the time of sale the community averaged 95 percent occupancy.
The buyer will bring Artēgan on as operator.