The Dallas luxury continuing care facility may have a new owner by Jan. 10, when a confirmation hearing is scheduled.
that includes a sale of the luxury Dallas retirement community’s assets, its lawyer said in federal bankruptcy court Tuesday.
to a new owner that would continue operating the 1.55 million-square-foot facility built on land wedged between Preston Hollow and University Park. Current and new residents would be offered new monthly rental agreements, doing away with the business model that required large upfront entrance fees. Edgemere’s previous recovery plan had Lifespace contributing $20 million. Lifespace, based in Dallas and West Des Moines, Iowa, is a not-for-profit that operates 17 communities in seven states and reported revenue of $282 million in 2020, the last year its tax filings are available.
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