Minnesota Chapter's 2020 Turnaround of the Year Winner
Certus’ award-winning turnaround included the stabilization and then asset sale of a 90-unit senior care facility, formally known as Grace Living Community of GlenOaks, located approximately 100 miles west of Minneapolis, MN. The facility includes skilled nursing, assisted living, memory care, and independent living. Certus was the successor court appointed general receiver in the case and efforts included:

  • Constant presence onsite to assess viability of business and ways to achieve improvement
  • Produced a comprehensive operational and financial assessment, identifying a path towards stabilization which was then implemented
  • Value engineered and implemented a campus wide, self-funding, capital improvement campaign designed to improve quality of life for residents, bolster asset value and thus, the likelihood for a successful sale
  • Efforts resulted in an improved T12 EBITDAR that reached as high as 280% over previous year
  • With the improved cash flow and enhanced vertical improvements, lead a robust marketing campaign and negotiated definitive documents
These efforts resulted in a successful sale to an experienced operator at a level that would have not been achieved otherwise. More importantly, the town where the facility is located has a stable employer going forward providing high quality of care to its vulnerable population. 

A Special Thank You to the Key Players in this Turnaround:
General Receiver:
General Receiver’s Counsel:
Trustee Council:
The story of this interesting turnaround is scheduled to be presented via Zoom next year on Thursday, March 18th (Noon - 1pm).  Please mark your calendar to attend this webinar and learn more about the sale and stabilization of this senior care facility.

In the meantime, please help us congratulate Certus Financial and Barnes & Thornburg for winning TMA Minnesota Chapter's 2020 Turnaround of the Year Award.