Edgemere gets further interim access to $2 million of DIP facility

By Sarah Lizee

Olympia, Wash., May 13 – Northwest Senior Housing Corp., which does business as Edgemere Dallas, received further interim approval to access $2 million of a $10.1 million debtor-in-possession term loan facility with bond trustee UMB Bank, NA as lender, according to another interim order filed Friday with the U.S. Bankruptcy Court for the Northern District of Texas.

The facility is set to mature on Dec. 31, as previously reported.

Interest is 10% per annum.

Edgemere also received further interim court approval to use the cash collateral of UMB.

A final hearing is scheduled for May 26.

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

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