OJAI, Calif. — Helios has arranged a working capital loan for The Artesian, a 64-unit assisted living and memory care community in the Ventura County city of Ojai.
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. The amount of the loan was not disclosed.