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. 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.
Read the full article: Federal Court Approves Petersen Health’s Sale of Majority of Nursing Homes for $116M //
Source: https://skillednursingnews.com/2024/07/federal-court-approves-petersen-healths-sale-of-majority-of-nursing-homes-for-116m/