Sage offered $76.3 million to outduel $69 million bid from MED Healthcare
Bid includes funding a portion of resident deposits that total $112 million
Henry Ford Village
Henry Ford Village, a 1,038-bed continuing care retirement community in Dearborn, was sold at auction for $76.3 million
An affiliate of New York-based Sage Healthcare Partners beat back a $69 million bid from Long Island-based MED Healthcare Partners at auction to acquire for $76.3 million the bankrupt 1,038-unit Henry Ford Village retirement community in Dearborn.
The auction was held as a part of its court-supervised sale process and HFV OPCO LLC, a newly formed affiliate of Sage, made the highest offer.
Henry Ford Village Announces Results of Chapter 11 Auction, Successful Bid from Sage Healthcare Partners Affiliate
Sage Offers $76.3 Million to Acquire Dearborn-Based Senior Living Community
Proposed Transaction Outlines Programs to Enhance Resident Experience and Employee Appreciation
HFV Operating Without Interruption, Maintaining the Health, Safety and Lifestyle of Residents
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DEARBORN, Mich., May 6, 2021 /PRNewswire/ Henry Ford Village ( HFV, the community ) today announced that the auction held as a part of its court-supervised sale process has concluded with HFV OPCO, LLC, a newly-formed affiliate of Sage Healthcare Partners ( Sage ) deemed as the highest or best offer. The transaction is subject to Bankruptcy Court approval, as well as regulatory approvals and customary closing conditions.
Henry Ford Village enters into $69 million purchase agreement with MED Healthcare crainsdetroit.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from crainsdetroit.com Daily Mail and Mail on Sunday newspapers.