Helios Healthcare Advisors facilitated the purchase of two assisted living communities in Northern Louisiana on behalf of an independent investment group based in Texas and Louisiana. Savannah Court of Bastrop and Savannah Court of Minden were owned by a public REIT and operated by a regional provider under a triple-net lease. Built in the late 1990’s, both communities had a historical average occupancy of 90% and maintained positive cash flow.
Helios effectuated a cooperative operations transfer for the new tenant. A mortgage loan was secured through Texana Bank to fund the purchase, at 85% loan-to-cost and an interest rate of 7.5%, under a 25-year amortization. The transaction closed in less than 70 days from the LOI with simultaneous PSA and OTA executions.
National Health Investors announced the sale of two communities that appear to be Savannah Court of Bastrop and Savannah Court of Minden.
