Helios Healthcare Advisors arranged acquisition financing for a 124-bed skilled nursing facility with a strong quality mix in Pasadena, Texas, on behalf of a regional healthcare operator that had been leasing the property from a third-party landlord. The financing package was $12.9 million, or $104,000 per bed.
Leveraging the facility’s strong occupancy and financial strength, Helios structured a direct HUD acquisition loan through a national HUD lender. The capital structure also included a seller note, allowing the borrower to close the transaction with minimal cash investment.
Pillar Stone Healthcare Company, based in Houston, Texas, acquired Baywood Crossing Rehabilitation & Healthcare Center for $12.5 million, or $100,800 per bed. The HUD loan financed $9.9 million of the purchase price, with a $3 million seller note covering the remainder.
