With more defaults expected in the continuing care retirement community (CCRC) space among those financed with tax-exempt bond financing that opened around the time of the economic downturn, private equity investors are being presented with opportunities that could yield substantial returns. “There will be billions of dollars of defaults in that space in the next […]
Senior Care Development LLC
If Senior Care Development LLC’s $86 million bid on a bankrupt Chicago continuing care retirement community goes through, holders of $229 million of debt for the distressed property will recoup just pennies on the dollar, according to The Bond Buyer, a “catastrophically bad recovery rate” that’s tied to its current business model. A hearing is […]
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