Helios Healthcare Advisors Secures Working Capital for Southern California Assisted Living Provider

CHICAGO, IL — Helios is pleased to announce its role in arranging a working capital loan for The Artesian, a 64-unit Assisted Living and Memory Care community located in Ojai, CA.

Constructed in 2020, the site consists of four, 16-unit buildings, which utilize a universal worker model to provide care and services to residents. A capital infusion was required to cover operating deficits until the community achieved stabilization and to reconfigure additional units to memory care as the market showed a strong demand for this. Through Helios’s extensive network of alternative capital sources, an offer from a private debt fund was procured to finance the transaction. The final product was a term loan securitized through a second deed of trust and subject to specific performance measures.

“We knew the market would be limited when it came to financing options for this request, especially given our atypical universal worker model. Helios 100% delivered here by educating capital partners on our business plan and securing funding quickly. Furthermore, this financing didn’t require us to give up equity or significant upside in the project,” Michael Weyrick, owner of The Artesian. 

“Across California, there is no shortage of assisted living communities built over the past 3-5 years that are behind in their lease up projections,” noted Managing Director Bill Janis. “So many of these projects have strong potential but face financial pressures as the market needs more time to find an equilibrium point in supply vs demand. Financing such as this ensures that the sponsorship group has the time needed for the asset live up to its full potential.”