Beverly Hospital gets final OK of $13.25 million DIP facility

By Sarah Lizee

Olympia, Wash., June 6 – Beverly Hospital Foundation received final approval of a $13.25 million debtor-in-possession facility via HRE Montebello, LLC, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Central District of California.

Interest accrues at one-month SOFR plus 12% per annum, paid in kind.

There is a $390,000 loan fee and a 1% exit fee.

Montebello, Calif.-based Beverly Hospital filed bankruptcy on April 19 under Chapter 11 case number 23-12359.

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