Helios Arranges $9.08MM Bridge-HUD Loan for Texas Seniors Housing Provider

CHICAGO, IL — Helios is pleased to announce its role in arranging a $9.08MM bridge-HUD loan (“Financing”) for a Texas-based seniors housing provider (“Borrower”).

Part of a larger initiative to recapitalize the Borrower’s 12-location portfolio, the Financing effectuated the first tranche of a multi-stage process. Consisting of 76-units/80-beds across two locations in the San Antonio MSA, the communities provide assisted living and memory care services.

With the existing debt maturing and one location working towards stabilization, Helios ran a competitive process that led to multiple term sheets and concluded with structuring an 18-month, interest-only bridge loan with limited recourse. “Coupling these two assets together was a strategic move that allowed the Borrower to shift leverage from an over-levered asset that needed more time to reach stabilization, to one that was stabilized and under-levered resulting in a clear path forward to get both to HUD.”, said Helios Managing Director Mario Santiago. “We were tasked with taking a global look at the portfolio to determine what levers we could pull to accomplish multiple objectives and this closing is a step in the right direction.”

During the process, Helios also worked to arrange a new operator for one of the Borrower’s managed communities in the Houston MSA. That transition effectuated on September 1^st, 2023.