Mario Wilson and Bill Janis of Helios Healthcare Advisors pulled off a successful partnership buyout of an assisted living campus in Illinois. Not only that, but the pair also arranged the acquisition financing for the deal. Built in the 2000s, the 54-unit assisted living community was relatively stabilized and reported positive cash flow. At some point early in its history, the property was purchased by the partnership, but one partner is now looking to retire.
Helios was engaged to structure the sale which resulted in a transfer of stock of the operating company and a real estate asset sale for the community. Helios then arranged a fixed-rate loan with a 25-year, fully amortizing term and an interest rate of approximately 3.4%. The remaining partner will continue operating the community. COVID-related interruptions to the deal process were limited, and the deal closed on August 1.
