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
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
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 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 »