Waverly Gardens and Glen
Independent living and assisted living community in Memphis.
Low occupancy caused this independent and assisted living company to negotiate a forbearance agreement from their bank to forestall foreclosure.
Equity Partners launched an exhaustive marketing process, seeking refinancing, joint venture partners, or a sale of the business.
Equity Partners secured a Letter of Intent and persuaded four other companies to compete for the community. We brokered a deal with the secured creditors whereby the community would be sold and the owner would share in the proceeds, despite the fact that they were at high risk for not recovering their full investment.