With the help of AVANA Capital, a growing Southern California home healthcare provider was able to purchase the property it had been leasing since 2012, and plans to use it as its expanded headquarters.
AVANA worked closely with the company, Victory Home Healthcare, to help it prepare for its growth. The purchase of the property gives Victory the opportunity to take complete control of the facility and make its business more valuable.
The purchase of the two, 3,000-square-foot properties will help Victory continue to service some of the biggest hospitals in Southern California. Victory began operating in 2008, when it started serving a couple of small areas near Glendale. Now its coverage spans a 70-mile radius as it continues to grow with each week. Its provides home health care and social services to the elderly, including skilled nursing, physical therapy, occupational therapy, speech pathology, medical social work and home health aid.
“Our consultant, who had done a couple of deals with AVANA Capital, said they were easy to work with,” said Petros Shannesyan, principal of Victory Home Healthcare. “With other lenders, we have not had the same positive experiences. In fact, it’s been quite a hassle. With AVANA, they were very aggressive in getting us the loan and it made the transition easy.”
Victory acquired a robust patient base over the last year, seeing a 28% increase in revenue in 2014 over 2013. Its growth means that the economy and employment in Glendale and surrounding communities will benefit, as will the scores of customers who are helped in their homes every day by Victory’s staff.
Looking ahead, Victory wants to expand its portfolio with the possible addition of hospice, boarding care homes, nursing homes, and IV infusion centers.
“Everyone at AVANA was interested in how our company was growing,” Shannesyan said. “It was a great experience working with them.”
“Between helping doctors pay for the right office space and finding loan solutions for medical facilities, lenders are seeing more and more demand in commercial real estate for healthcare,” said Sanat Patel, Managing Partner of AVANA Capital. “We are proud to have had the opportunity to help Victory in securing property for its headquarters. Businesses like theirs are turning to AVANA Capital at critical moments to ask for help in getting deals done, and, as a result, creating or saving jobs and Small Business Administration loans are becoming a primary tool for healthcare businesses to grow and prosper.”
More and more, business owners who are in need of funding across the nation are reaching out to AVANA Capital to help achieve the American dream. For example, for restaurant franchises, AVANA specializes in loans and helps clients and prospective borrowers looking to buy or refinance their commercial real estate space. Another example is for hotel franchises, where AVANA Capital leverages its vast expertise and experience in this complex process to guide and assist its clients throughout the lending process.