Memory-care facility exits suit, gains new lender, ownership – BizWest bizwest.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizwest.com Daily Mail and Mail on Sunday newspapers.
In a complaint filed Tuesday in Larimer County District Court, Stearns Bank N.A. sought a court-ordered foreclosure of the property at 3150 Rock Creek Drive and asked the court to appoint a receiver to manage it.
The original loan of $7.2 million was issued in 2016, and the facility opened in 2017. Stearns claims that it sent a notice of default in April, including the principal amount and an additional $1.16 million in interest and late charges. The loan is accruing $4,076 per day in additional costs.
Aspyre is operated by Solera Senior Living, a chain of senior communities based in Denver that has eight locations across the country. The property has space to care for 64 tenants and currently cares for 22.
NEW BRAUNFELS, TX – Imprint Property Group (IPG), a premier, boutique developer and operator of active adult communities, today announced it has broken-ground on its third active adult recreational community in Texas.
Larkspur at Creekside, a spacious 184-unit, amenity and activity-rich community being created in the San Antonio suburb of New Braunfels, signifies the first of a series of projects in a joint-venture partnership with Batson- Cook Development Company (BCDC), an Atlanta-based subsidiary of Kajima Corporation, one of the oldest and largest developers in Japan.
“We are excited to launch Larkspur at Creekside, our third generation Larkspur 55+ branded community with Batson- Cook Development Company, says Noah Drever, founder and CEO of Tiburon, CA-based IPG. “Our vertically integrated partnership is well-positioned to build out our immediate development pipeline and further elevate “Larkspur” as a premiere boutique 55+ active adult national br