U.S. Individual bankruptcy Courtroom Approves Sale of Henry Ford Village to Sage Health care Companions Affiliate

DEARBORN, Mich., May well 24, 2021 /PRNewswire/ — Henry Ford Village (“HFV,” “the community”) right now…

DEARBORN, Mich., May well 24, 2021 /PRNewswire/ — Henry Ford Village (“HFV,” “the community”) right now declared that the United States Bankruptcy Court in the Japanese District of Michigan has authorized the sale of significantly all of HFV’s assets to HFV OPCO, LLC, an affiliate of Sage Health care Associates (“Sage”), for $76.3 million, topic to entry of closing agreed orders. The transaction remains subject to regulatory approvals and customary closing conditions, and HFV anticipates the sale will be completed in close to 90 to 120 times.

The path forward for the local community centers close to its inclusion in Sage’s network of senior living communities, and contains ideas to boost programmatic things to do for inhabitants and workers while investing to boost HFV’s campus more broadly. Sage has also pledged to uphold HFV’s recent commitments to manage the well being, safety and life style of its citizens.

“We are starting off a new chapter in the Henry Ford Village story, and we’re pleased to do so obtaining realized a more powerful economic basis and managed the finest passions for the entire HFV neighborhood. Sage is previously demonstrating commitment and engagement with the persons who make HFV so distinctive, and we are assured that it will uphold HFV’s values. Now, we look ahead to emergence and observing the long-expression constructive affect that Sage has on our local community,” explained Bruce Blalock, Henry Ford Village’s Government Director.

“We are pleased to have executed a powerful sale approach that brought a proposed purchase to the Court, supported by all main constituencies. We are grateful to HFV’s stakeholders for coming with each other to support the combination and path ahead for the neighborhood,” mentioned Sheryl Toby, Husband or wife at Dykema Gossett PLLC.

“We are enthusiastic to give HFV a chance to prosper for many years to come and, more importantly, to begin focusing on what really issues: the health and fitness and basic safety of just about every HFV community member,” stated Avi Satt, President of Sage Healthcare Companions. “Our precedence is forming deep and significant relationships with workers and citizens, and collaborating to carry on the legacy of a very long-standing and wonderful senior dwelling neighborhood.”

Extra Data

All applicable sale-associated courtroom filings, as effectively as more data about Henry Ford Village’s Chapter 11 scenario are accessible at http://www.kccllc.net/HFV or by calling (866) 476-0898 for U.S./Canadian phone calls or (781) 575-2114 for global phone calls.

Henry Ford Village is represented in this matter by Sheryl Toby of Dykema Gossett PLLC. FTI Consulting is serving as Chief Restructuring Officer (CRO) and restructuring advisor.

About Henry Ford Village

Henry Ford Village is a Senior Living Neighborhood in Dearborn, MI, that encourages building the most out of each existence chance. Henry Ford Village presents three amounts of care for individuals 62 and more mature together with unbiased residing options, rehabilitation solutions, and assisted dwelling. Henry Ford Village sits on 35 acres of land, which is household to about a single hundred golf equipment and pursuits, and leading-of-the-line residential treatment facilities for its people to engage in and count on. For much more information and facts, check out www.henryfordvillage.com.  

About Sage Healthcare Associates

Sage is a leading operator of senior housing and healthcare amenities. It was started on the ideas of supplying significant-top quality resident-targeted care, with genuine diligence and dedication, and to produce a do the job surroundings of equivalent caliber. Sage owns, operates, manages and consults throughout the entire continuum of treatment in the senior housing and health care area, specializing in independent living, as very well as continuing treatment retirement communities, assisted residing, experienced nursing and memory care.

Media Get hold of:
Rachel Chesley
FTI Consulting
[email protected]

Resource Henry Ford Village

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