A bankruptcy judge in Pennsylvania has approved a $51 million cash sale to Concordia Lutheran Ministries of six continuing care retirement / life plan communities owned by York, PA-based SpiriTrust Lutheran.
Additionally, Concordia will assume $7 million in outstanding debt for three outstanding Housing and Urban Development loans. The approval came last week.
Four of the SpiriTrust CCRCs are in York County, one is in Adams County and one is in Franklin County — all in the Keystone State…