December 13, 2019, Ben Swett, SeniorCare Investor - Helios Healthcare Advisors handled the sale of an 87-bed skilled nursing facility in West Salem, Wisconsin. Originally built in 1963 with additions in 1968 and 1994, the facility is 100% Medicare-certified and provides physical, speech, occupancy and recreational therapy, as well as short-term rehab and traditional long-term care.
It was previously owned by a Lakewood, New Jersey investor but was divested as part of a multi-stage strategy to exit the state and focus on markets closer to their headquarters. Mario Wilson and Bill Janis positioned the facility as a value-add opportunity and found a buyer in a Midwest operator of nearly 30 skilled nursing facilities in four Midwest states.
The Helios team has had an active December so far, having earlier this month refinanced a 67-unit assisted living/memory care community in Evansville, Indiana. And it’s been a successful first year for the firm. We hope they find time to celebrate this holiday season.