Jeff Rhodes and Bill Janis of Helios Healthcare Advisors, continuing Helios’ impressive start to 2019, handled the sale of a 120-bed skilled nursing facility in Jackson, Mississippi. Originally built in 1984 with 60 beds and expanded with another 60 beds in 1997, this facility was previously owned by a local family with a good reputation in the area. Occupancy was solid at 84%, typically with seven or eight Medicare patients at a time.
The buyer, a regional operator with a large presence in the state of Mississippi, may expand the short-term rehab program going forward. They paid $10.1 million, or $84,200 per bed, for the facility.