Helios Healthcare Advisors was engaged by a Mississippi-based regional owner/operator in its sale of an assisted living and memory care community in Alabama. The seller, Veritas InCare, was divesting to exit the industry. The selected buyer was a local owner/operator. Andrew Wittenauer, Mario Santiago and Bill Janis of Helios handled the transaction.
Despite the community’s strong performance, dislocation in the debt markets and low liquidity impacted the buyer’s ability to utilize its existing lending relationships to fund the purchase. So, Helios structured a financing package with a regional lender that recapitalized the buyer’s existing community to unlock equity, while simultaneously providing the acquisition financing for the AL/MC community.
