Edgemere Dallas seeks approval of $10.1 million DIP term loan

By Sarah Lizee

Olympia, Wash., April 18 – Northwest Senior Housing Corp., which does business as Edgemere Dallas, is seeking court approval to enter into a $10.1 million debtor-in-possession term loan facility with bond trustee UMB Bank, NA as lender, according to a motion filed late Thursday with the U.S. Bankruptcy Court for the Northern District of Texas.

The company is seeking interim access to $2 million of the term loan.

The facility is set to mature on Dec. 31.

Interest is 10% per annum.

Edgemere has also asked for court approval to use the cash collateral of UMB.

The Dallas-based luxury senior living community filed Chapter 11 bankruptcy on April 14 under case number 22-30659.

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