Helios Healthcare Advisors Structures Sale of 7-facility, 852-Bed Skilled Nursing Portfolio in Texas for $57.8MM

CHICAGO, IL — Helios Healthcare Advisors (“Helios”) is pleased to announce its role in structuring the sale of an 852-bed skilled nursing portfolio located throughout the state of Texas on behalf of a regional developer (“Seller”). 

Helios was engaged by the Seller and ran a meticulous process to secure a purchaser for the real estate subject to existing leases with two of the largest operators in the state of Texas. A total of twelve offers were procured from various healthcare real estate investment groups that ranged from publicly traded entities to private family offices. An Arkansas-based real estate investor was ultimately selected and took over the portfolio on August 15th, 2022.  

The buildings’ physical plants were well maintained, with an average age of 14 years. Despite the portfolio’s non-performing leases primarily as a result of COVID-19, Helios was able to achieve proceeds commensurate with the contractual rent.   

The purchase price was $57,800,000, or approximately $67,800 per-bed. 

This marks Helios’s 10th transaction in Texas to date, totaling transaction volume of over $175MM consisting of both asset sales and financings and solidifies Helios’ role as a market leader in the state.  

“Achieving top pricing remained a paramount concern to the seller” noted Jeff Rhodes, Helios Managing Director. “To accomplish this, our team spent a considerable amount of time educating the market on how the tenants’ contracted rents were supportable in the long-term.