Helios Healthcare Advisors has structured a partnership buyout of an Indiana-based assisted living and memory care provider. The company, which included Hendricks County Hospital as an owning partner, operated Golden LivingCenter – Woodbridge, a 67-unit assisted living/memory care community in Evansville, Indiana. Acquired by the partnership in 2012, the community underwent a complete renovation in 2015 and reopened as the first standalone memory care community in Evansville, before an expansion added traditional assisted living units as well.
In 2019, Helios helped secure construction financing for that project. Post-expansion and renovation, Helios then worked to recapitalize the venture, which included structuring a buyout of one of the original partners and replacing the construction loan with permanent financing. So, Helios arranged a conventional term loan through a NASDAQ-listed lender expanding its healthcare portfolio. The community was also renamed Brickyard Healthcare – Woodbridge Care Center, which is Golden LivingCenters’ new brand. Mario Wilson, Bill Janis, and Andrew Wittenauer worked on the deal.
