A Chicago area continuing care retirement community has exited a 15-month Chapter 11 bankruptcy process with a reduced debt load, a new operator and a $5 million capital improvement plan in place for 2021. Clare Oaks, located in the suburb of Bartlett, emerged from bankruptcy on November 6, 2020, the community announced in a statement. […]
Evergreen Senior Living Properties
Continuing care retirement community (CCRC) Clare Oaks will be getting a new management company and more assisted living units if a new Chapter 11 restructuring plan is approved. Located in the Chicago suburb of Bartlett, Illinois, Clare Oaks voluntarily filed for Chapter 11 bankruptcy protection in June 2019. Subsequently, Clare Oaks creditors’ committee battled with […]
Texas Senior Living Communities Acquired for $79 Million Evergreen Senior Living Properties, LLC and management affiliate ESLP Management, LLC, recently announced the acquisition of four senior living communities in Texas from Sears Methodist Retirement System in a $79 million transaction. The purchase includes The Craig in Amarillo, Meadow Lake in Tyler, The Parks in Odessa, […]
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