The Epworth Villa retirement community in Oklahoma City filed a petition for Chapter 11 protection on July 18 to forestall a $15 million foreclosure judgment (In re Central Oklahoma United Methodist Retirement Facility Inc., Bankr. W.D. Okla., No. 14-12995, petition filed).
The project, formally named Central Oklahoma United Methodist Retirement Facility Inc., has 264 independent-living units, 118 assisted-living units and 87 nursing beds. It’s affiliated with the Oklahoma Conference of the United Methodist Church.
The project is in the middle of a $65 million renovation scheduled for completion in 2015.
The project was financed with $87.8 million in ...
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