Helios Handles Houston-Area Portfolio Deal
A skilled nursing portfolio located around the Houston, Texas metro area with some operational and financial struggles found a new owner and operator with the help of the team at Helios Healthcare Advisors. Totaling 390 beds, these facilities were built in the last 10 years by the seller, a regional developer. However, newer vintage is no guarantee for successful operations, and the regional operator that leased the facilities faced difficulty maintaining high census and a good quality mix. There were also some clinical issues that further depressed referrals. These problems resulted in negative lease coverage and cash flow at the time of the sale. So, Helios sourced a real estate... Read More »
Private REIT Finds New Operator For Colorado Communities
Fresh off of arranging a partnership buyout for an assisted living campus in Illinois, Bill Janis and Mario Wilson of Helios Healthcare Advisors found a new operator for two assisted living communities in Colorado. Both built in the late-1990s, these communities were owned by a private REIT based and incorporated in the U.S. but controlled by a Hong Kong private investment management firm. Around 25% of their census was made up of Medicaid residents, and their operating performance could be improved. Part of the reason for that was the assets were far from the prior operator’s Santa Barbara, California headquarters. There is also the opportunity to reposition them to better compete in... Read More »
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 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 »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
