Helios Healthcare Advisors Structures Purchase of Two Assisted Living Facilities in Louisiana

CHICAGO, IL — Helios Healthcare Advisors (“Helios”) announces its role as the exclusive buy-side advisor and debt-placement agent in structuring the purchase of two Assisted Living communities in Louisiana on behalf of an independent investment group based in Texas and Louisiana (“Purchaser”).

The Purchaser engaged Helios on an exclusive basis to identify opportunistic sales of Assisted Living communities in the Northern Louisiana market in the  fourth quarter of 2023.

Savannah Court of Bastrop and Savannah Court of Minden are two Assisted Living communities that were owned by a public REIT and operated by a regional provider under a triple-net lease. Built in the late 90’s, both communities boasted a historical average occupancy of 90% and maintained positive cashflow. 

Upon confidentially contacting the REIT, Helios was able to successfully negotiate a compelling structure on behalf of the Purchaser and effectuate a cooperative operations transfer for their new tenant. A mortgage loan was secured through Texana Bank to fund the purchase, at 85% loan-to-costs and an interest rate of 7.5%, under a 25-year amortization. 

The purchase went under LOI in February of 2024 and closed as scheduled with no extensions in less than 70-days with simultaneous PSA and OTA executions.

“We engaged Helios to exclusively represent us because of their intimate knowledge of the Louisiana market. What we didn’t realize was how quickly they would find an opportunity which both fit well within our target footprint and was also off-market,” said David Pittman, investment partner at Rhoman Properties. “With a new provider partner in the state, Valiant Healthcare Management, we faced a handful of challenges which Helios helped us navigate; whether it be through advising on underwriting projections and debt structures, license transfer procedures, insurance options, and even payroll systems for our provider.”