A skilled nursing portfolio sold in Texas with the help of Chicago-based Helios Healthcare advisors. The seller, a regional developer, engaged Helios to sell the real estate of seven facilities, which were subject to existing leases with two of the largest operators in the state. Comprising 852 beds, these facilities were on average 14 years old (relatively young for the sector), the portfolio’s leases were non-performing due to the pandemic.
But demand for SNFs is high, and 12 offers were procured from various healthcare real estate investment groups that ranged from publicly traded entities to private family offices. In the end, an Arkansas-based real estate investment group paid $57.8 million, or $67,800 per bed. This marks Helios’ 10th transaction in Texas to date, totaling more than $175 million in volume that consists of both asset sales and financings.
