The senior living campus of Assisted Living and Skilled Nursing communities was at risk of licensure termination by state regulators, who had assigned a temporary manager. Investors were given two-week notice of closure and transfer of the remaining 12 residents.
How We Helped
Long Hill held a planning meeting with state officials, and on a parallel course worked with Columbia Pacific Advisors to prepare a federal, consensual receivership filing. Within two-weeks, federal courts approved filing, and Long Hill was assigned as the receiver. Long Hill immediate began work to excuse the state-appointed manager, gain the trust of staff and referral sources.
- Improved SNF Census from 12 residents to 77, reaching 100% occupancy;
- Organized broker selection process;
- Advised on securing favorable licensure status to a successor;
- Supported broker with financial analysis and improvement in market value; and
- Consummated sale at 100% recovery of the original investment.