• Summit LTC Management Acquires East Texas SNF

    The Blueprint Healthcare Real Estate Advisors team worked together to sell a 112-bed skilled nursing facility located near the University of Texas Health, East Texas campus in Athens, Texas. Built in 1987, the facility has mostly semi-private rooms. It historically operated well while enrolled in QIPP, but a new local competitor put downward... Read More »
  • Monticello Funds Wisconsin Acquisition and Refinance

    MONTICELLOAM, LLC (Monticello) and its affiliates recently structured first lien debt for a portfolio of three senior care facilities in Wisconsin. The purpose of the debt was two-fold, with a portion going towards the acquisition of an assisted living/skilled nursing property and the remaining amount refinancing two skilled nursing facilities.... Read More »
  • Cambridge Realty Capital Lowers Rate On 16 Facilities

    Cambridge Realty Capital announced a slew of HUD loan modifications in the first half of 2020. The lender worked on behalf of borrowers with a combined 16 healthcare facilities that all had HUD mortgages. They are located in Illinois, California, Ohio, Texas, New Jersey and Iowa. In total, Cambridge funded over $200 million in loan modifications,... Read More »
  • Brookdale, Genesis Report Tough Quarters

    Brookdale Senior Living and Genesis HealthCare, the two largest providers, were not spared from COVID’s devastation in the second quarter. The two largest providers in their respective sectors, Brookdale Senior Living in seniors housing and Genesis HealthCare in skilled nursing, did not escape COVID’s wrath. No one expected they would.... Read More »
  • Senior Living Investment Brokerage Sells Michigan Senior Care Campus

    Ryan Saul, Joe Young and Brad Clousing of Senior Living Investment Brokerage successfully sold a senior care campus in Jackson, Michigan. Originally built in 2010, the property comprises 90 total units, split between 50 private skilled nursing beds and 40 assisted living units. Historically, it operated well with occupancy consistently around... Read More »
Helios Healthcare Advisors Heads to Houston For HUD Deal

Helios Healthcare Advisors Heads to Houston For HUD Deal

Helios Healthcare Advisors successfully closed a HUD refinance of a 124-bed skilled nursing facility in the Houston, Texas metro area. Recently built in 2015, the facility was placed on the SFF list soon after opening. As soon as the developer/landlord brought in a new operator, things turned around, and the facility was quickly stabilized, cash flowing and occupancy in the 90s. It graduated from the SFF list, but as of closing the facility still maintained a one-star rating from CMS, which we imagine will soon rise.  Working with HUD, Bill Janis and Mario Wilson of Helios structured an $8.5 million loan with a 35-year term and fixed interest rate below 3%. That makes for a happy borrower,... Read More »
Helios Healthcare Advisors Heads to Houston For HUD Deal

Helios Healthcare Advisors Sources Tenant in Texas SNF Sale

At the start of April, the team at Helios Healthcare Advisors including Jeff Rhodes, Bill Janis and Mario Wilson, successfully sourced a tenant and structured the lease of a 150-bed skilled nursing facility in Kerrville, Texas. We’re not sure how operational transitions go these days, but we can’t imagine they’re easy.  Blueprint Healthcare Real Estate Advisors (Mr. Wilson’s former stomping grounds) announced the deal last week, representing the REIT seller. Built in 2006, the facility was enrolled in the Texas Quality Incentive Payment Program (QIPP). Formerly operated by Southwest LTC, its occupancy was in the low-50% range, but cash flow (before the QIPP revenue) was... Read More »
Helios Handles Boston-Area SNF Sale

Helios Handles Boston-Area SNF Sale

Bill Janis and Mario Wilson of Helios Healthcare Advisors represented a family owner in their complete exit from the skilled nursing industry with the sale of their 169-bed SNF in an upscale suburb of Boston, Massachusetts. Consistently achieving a four- or five-star rating from CMS, the facility maintained a good reputation in the local market. It was the preferred provider among the area’s ACOs and hospital systems, and as a result boasted average occupancy above 90% and a strong rehab and private pay census. The family owner had operated it for over 20 years, but the time had come for them to exit the business. The Helios team procured over 10 offers from local and regional providers... Read More »
Titan SenQuest Acquires Ohio Property

Titan SenQuest Acquires Ohio Property

Helios Healthcare Advisors has been on a roll in the last month, closing several acquisitions and financings since mid-November. After about a year in operation, it appears Bill Janis and Mario Wilson have really hit their stride. Most recently, the pair represented an Ohio owner in the sale of their last senior living property (a common theme of 2019) in Summit County (Cleveland area). Since buying the 117-unit community in the 1990s, the previous owner invested capex in the 1980s-vintage property in the late-1990s and again in 2016. And despite occupancy in the low- to mid-80s, with nearly all private pay residents, cash flow was healthy at nearly $1 million in EBITDAR with a roughly 25%... Read More »
Helios Handles Wisconsin SNF Sale

Helios Handles Wisconsin SNF Sale

Helios Healthcare Advisors handled the sale of an 87-bed skilled nursing facility in West Salem, Wisconsin. Originally built in 1963 with additions in 1968 and 1994, the facility is 100% Medicare-certified and provides physical, speech, occupancy and recreational therapy, as well as short-term rehab and traditional long-term care. It was previously owned by a Lakewood, New Jersey investor but was divested as part of a multi-stage strategy to exit the state and focus on markets closer to their headquarters. Mario Wilson and Bill Janis positioned the facility as a value-add opportunity and a found a buyer in a Midwest operator of nearly 30 skilled nursing facilities in four Midwest states.... Read More »