The Plaza at Sun Mountain and
The Regency Plaza at Sun Mountain
Las Vegas, Nevada
Tutera was appointed the receiver for The Plaza
at Sun Mountain, a 179
unit assisted living facility, and The Regency
at Sun Mountain, a 188
licensed bed skilled nursing facility, both of
which are located in Las Vegas, Nevada. Tutera was appointed in
conjunction with a legal proceeding filed
by Lehman Brothers Holdings,
Inc. (“Lehman Brothers”) seeking to
foreclose on the facility based upon
the borrowers’ default on indebtedness owing to Lehman Brothers in
excess of $20,000,000. The lender
subsequently foreclosed upon these
facilities and Tutera continued to
manage these facilities for the benefit
of the secured lender until sold for $26,000,000.