Continuing Care Facilities On PGA National Resort Seek Ch. 11

Law360, Wilmington (September 19, 2013, 4:49 PM EDT) -- The company that owns a retirement community and assisted living facility located within the PGA National Resort and Spa in Florida filed for Chapter 11 protection Thursday in Delaware, citing a decline in occupancy since the 2008 economic crisis that eventually led to debt defaults and a foreclosure action.

Devonshire PGA Holdings LLC — along with operating affiliates Devonshire at PGA National and Chatsworth at PGA National — listed between $100 million and $500 million in debt in its petition, and said it has a fully...
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