Sunbridge Care Center at Jackson
Jackson, California
Tutera took over the day-to-day management of
Sunbridge Care Center
for the landlord of this long term care facility
following the rejection of a
lease by an affiliate of Sun Healthcare Group
(“Sun”) in conjunction with
Sun’s chapter 11 proceeding pending before
the United States Bankruptcy Court for District of Delaware. Tutera and
the landlord, together with
FINOVA Capital Corporation (“FINOVA”),
which holds a first mortgage lien
in the facility, worked in unison to
take back the operations for Sun and to operate the facility for the
benefit of the owner upon the issuance of a
license by the State of
California. In conjunction with the management of
this facility, Tutera
provided the owner with access to a $1,050,000 line of credit for
which FINOVA has agreed to subordinate its first mortgage liens
and
security interests to secure repayment of such loan.