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Private Equity Firm - A Case Study

Receivership of CCRC

$0Million

Asset Value

0%

Asset Recovery

0%

SNF Census Improvement

0

Bed Count
ColumbiaPacificAdvisors_Logo_1019

About Columbia Pacific Advisors

An investment firm that has completed over $10 billion in transactions since 2006, and a sophisticated investor of senior living markets.

“Long Hill saved a CCRC from getting shut down by the state and turned it around to a stabilized operation. Dave and his team were brought on as a receiver for one of our defaulted loans secured by a CCRC. Their team navigated the regulatory, bureaucratic, operating, legal, personnel and vendor complexities with urgency, precision, and care. The next time I need a receiver or operator, my first call will be to Long Hill Company. They take on each project as if their money was invested in the deal. As an investor and lender, it's the exact attitude and approach I'm looking for.”

Kevin Quinn
Columbia Pacific Advisors - Asset and Underwriting Manager for Real Estate Lending

“As a turnaround professional focusing on healthcare for the past 20 years, I understand the caring, dedication, depth of knowledge, and pace of work necessary for a successful restructuring project. When it comes to the growing ad fast-paced business of post-acute turnarounds, the operator I implicitly trust is The Long Hill Company. Dave and his team have my highest and unqualified recommendation!”

Rick Arrowsmith
Managing Director, Alvarez and Marsal

The Challenge

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 a two-week notice of closure and the transfer of the remaining 12 SNF 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 consensual receivership filing in federal court. Within two-weeks, federal courts approved filing, and Long Hill was assigned as the receiver. Long Hill immediately began work to excuse the state-appointed manager and gain the trust of staff and referral sources.

 

The Results

  • 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.

What can The Long Hill Company do for you?

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