Bankrupt Buckingham Senior Living Community Inc. won approval to sell its Houston continuing care retirement community to Chicago private equity group Focus Healthcare Partners LLC in a bid valued at $133 million.
The sale was approved by Judge Michelle V. Larson at a hearing Wednesday held in US Bankruptcy Court for the Northern District of Texas. The deal includes $116.4 million in cash, a commitment to spend $20 million on capital improvements over four years, a $750,000 health-care discount program, and a $12 million rent rebate fund.
“I’m certainly pleased a reputable, experienced buyer, in the way of Focus is ...
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