Helios Healthcare Advisors went to a private credit fund to secure a refinance for a senior care portfolio in California. Totaling 165 beds, there is a skilled nursing facility in San Bernardino and an assisted living community in Fillmore. The communities are owned by EVA Care Group, a Los Angeles-based national healthcare organization.
Both properties were previously mortgage free, creating an opportunity for EVA Care Group to unlock liquidity and strategically recapitalize the assets. EVA could have pursued a traditional working capital line, which would have introduced significant administrative burden and come with restrictive covenants that limit operator flexibility. But Helios secured near-immediate funding through the private credit fund that underwrote the request on a conservative loan to value basis. From term sheet to funding, the transaction closed in less than two weeks.
