Skilled Nursing News July 11, 2024
Petersen Health Care’s sale of the majority of its properties to Cascade Capital Partners, a Skokie, Ill.-based real estate investment firm, was approved by a federal bankruptcy court on Wednesday.
The sale allows Petersen Health Care to move forward with a significant reorganization following its bankruptcy filing in March, enabling it to stabilize its financial position while ensuring continuity of care for residents across its properties.
The court’s decision follows a competitive bidding process overseen by Petersen Acquisitions, which placed a so-called stalking horse bid ahead of the auction.
Cascade Capital Partners, managed by former executives of Legacy Healthcare, secured the deal with a winning bid of $116 million for most of Petersen Health Care’s properties. The nursing home company,...
Today's Sponsors
Today's Sponsor