Helios Healthcare Advisors has been hard at work arranging a sale, securing acquisition financing and finding a new operator for a couple of clients. First, the team structured the sale of Harvest View of Herscher, a 42-unit assisted living community on an 8-acre site in Herscher, Illinois.
Family-owned and developed in 2008, the community was supposed to expand in order to include market-rate multifamily apartments. The seller engaged Helios to run a process to find an acquirer who could see value in continuing the original mission of the venture, ultimately moving forward with Peoria, Illinois-based Petersen Healthcare.
Helios next arranged both an operating partner and acquisition financing for a portfolio of assisted living/memory care communities in Alabama for SouthCorp Group, a Georgia-based real estate investment firm that made its first seniors housing acquisition with this deal. Totaling 88 units, with accompanying SCALF licenses, the communities are located in Troy, one of the fastest growing cities in Alabama, and Enterprise in Coffee County.
New Jersey-based Distinctive Living was selected to manage the communities, and Helios served as the exclusive sell-side advisor throughout the transaction, in addition to arranging the acquisition financing.
