Safe Haven Healthcare has continued operations through a transaction with Cascadia Real Estate, LLC
Safe Haven Healthcare, Inc. – Safe Haven was operating in a chapter 11 bankruptcy when it retained SC&H Capital to sell its two Bellevue, Idaho based entities: Bell Mountain Village and Care Center, an assisted living and skilled nursing facility, and Safe Haven Homes of Belview, an assisted living facility. SC&H conducted an exhaustive marketing process that culminated with an auction among four qualified bidders. After several rounds of bidding, the secured creditor exercised its right to credit bid and was deemed the high bidder. The debtor’s professionals decided to keep the auction open for an additional week to allow bidders the opportunity to improve their offers.
SC&H led negotiations to improve bids and obtain support from the secured creditors. After several improvements, Cascadia Real Estate, LLC, a subsidiary of Cascadia Healthcare, one of the largest owner/operators of skilled nursing facilities in the state, was deemed the high bidder on the morning of the sale hearing. Permitting, licensing, and other issues required further negotiations before the court was willing to approve the sale. Again, SC&H led the efforts to arrive at a compromise that was accepted by all and ultimately approved by the court. Closing occurred within 30 days of entry of the sale order.