Eagle Senior Living gets court approval to sell Vista Lake facility

By Sarah Lizee

Olympia, Wash., April 7 – American Eagle Delaware Holding Co. LLC, which does business as Eagle Senior Living, gained court approval to sell to Illuminate HC, LLC its Vista Lake facility, according to a minute filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The purchase price is $7.1 million in cash, as previously reported.

The backup bidder is stalking horse bidder 11722 N 17th LLC (Atlantis), which bid $7 million for the facility at auction. The original purchase price under the stalking horse agreement was $4 million.

Bid protections under the stalking horse agreement include an up to $50,000 expense reimbursement and a $120,000 breakup fee.

The Ann Arbor, Mich.-based senior living community provider filed bankruptcy on Jan. 14 under Chapter 11 case number 22-10028.

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