Bankrupt Buckingham Senior Living Community Inc. selected Chicago-based private equity group Focus Healthcare Partners LLC to acquire its Houston continuing care retirement community with a $133 million bid.
Focus SH Acquisitions LLC’s successful bid for The Buckingham includes $116.4 million in cash, a commitment to spend $20 million on capital improvements over the next four years, a $750,000 health-care discount program, and a $12 million rent rebate fund, according to Jan. 23 notice in the US Bankruptcy Court for the Northern District of Texas.
The Focus bid would have the community fully transition from an entrance fee model to a ...
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