Helios Arranges Sale in Massachusetts
A family-run organization is getting out of the skilled nursing business (along with many other mom & pops across the country) and sold its 63-bed facility in northwest Massachusetts. Built in the mid-1960s, the facility was also operated by the seller but recently experienced a census decline from the mid-80s to the high-60s. That is because the Massachusetts Department of Public Health recently proposed and implemented a removal of all three- and four-bed wards at SNFs in the state. The industry has been moving past wards for a while now, but some operators of older, mostly Medicaid facilities rely on them to fill beds and cover their overhead costs. With Medicaid reimbursement rates... Read More »
Helios Healthcare Advisors Arranges Two Transactions
Helios Healthcare Advisors started 2022 by announcing a couple of transactions in the southern United States. First, Helios procured a Dallas-based owner/operator to operate an assisted living community in northern Texas. The prior operator was located out of state and experienced logistical difficulties operating this community. So, Helios arranged the third-party management transition on behalf of the owner, an investment firm based in San Francisco, California. Next, Helios arranged the sale of an 82-bed skilled nursing facility on behalf of Tri-State Health Services in Claiborne Parish, Louisiana. A new regional owner/operator was selected to take over the real estate and... Read More »
Helios Healthcare Advisors Facilitates Acquisition in Oregon
Samaritan Health Services, an Oregon-based not-for-profit integrated health system, sold a seniors housing community in Sweet Home, Oregon that it had picked up in a merger but has since deemed to be non-core. Samaritan engaged Helios Healthcare Advisors to market the property and procure a buyer, which ended up being Mosaic Management, a regional operator with a presence in the local market. Mosaic paid $4.2 million, or $65,600 per unit. There was no cap rate on the deal, since the community was losing about $350,000 in EBITDAR. Built in the late 1990s, it includes 44 assisted living units in one building and 20 independent living units between five buildings. Occupancy was around 70%.... Read More »
Texas-Based Operator Acquires Dallas-Area SNF
Jeff Rhodes, Bill Janis and Mario Wilson of Helios Healthcare Advisors arranged acquisition financing for a 120-bed skilled nursing facility in the Dallas metro area. This was the only operation for the current Texas-based operator, which is acquiring the facility from the out-of-state landlord. Newly built in 2014, the facility maintained above average occupancy at the time of the sale. Helping its operations was its location in an affluent suburb near a handful of major hospitals. It also consistently achieves strong clinical ratings. The Helios team arranged a $12.53 million bridge loan from a regional lender to help cover the $13.06 million, or $108,800 per... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
