Certus Awarded TMA Turnaround of the Year 2024
Once again, Certus has been awarded the “Turnaround of the Year” by the Minnesota Chapter of the Turnaround Management Association (TMA). Certus received the award for the successful conclusion of the receivership of Cambia Hills of East Bethel, a Psychiatric Residential Treatment Facility for youth located in East Bethel, Minnesota.
Highlights include:
- Cost Containment Measures: Certus implemented value-engineered cost containment measures to ensure preservation of the facility.
- National Marketing Search Program: A national marketing effort was conducted to facilitate the sale of the property, attracting qualified buyers from across the country.
- Restoration of Licensure: The primary goal of Certus was to restore the facility under its prior licensure with a qualified operator, ensuring the continuation of vital services for youth in need.
- Customized Adolescent Behavioral Health Facility: The facility is designed for highly functional, specialized residential care dedicated to adolescent behavioral health, providing tailored care to meet the unique needs of young individuals.
- National-Level Operators: The facility has been sold to an operator with a national presence who also carries a deep understanding of local logistics, ensuring seamless operations and community engagement.
- State-of-the-Art Building Systems: Throughout the receivership, Certus maintained the state-of-the-art mechanical and building systems to preserve the facility’s operational efficiency and safety.
- Collaboration with Local Authorities: Certus established a strong and productive working relationship with city, county, and state representatives to provide the necessary structure to support ongoing operations of the program
Please click here to visit the Minnesota Chapter of the TMA and read about the award.
Certus Completes Advisory Services for EB-5 Program Lender on Fairfield, TX Development
Certus announces successful conclusion of advisory services to EB-5 program Lender regarding single-family planned development in Fairfield, Texas.
The engagement resulted in pre-payment/refinancing of the Lender’s note which was in default by the borrower, allowing for exit of involvement in the project.
Certus Successfully Concludes Advisory Services for Assisted Living and Memory Care in Grand Junction, CO
Certus announces successful conclusion of advisory services to Indenture Trustee and Bondholders in relation to assisted living and memory care senior living facility located in Grand Junction, CO.
The engagement included the following outcomes:
- Operational and financial analysis to assess potential avenues for improving performance of the property
- Negotiated forbearance agreement with borrower to continue operating the community
- Efforts have led to real-time improved financial performance towards stabilization
Certus engaged as Court-Appointed Receiver of Roseville, MN Senior Housing Community
Certus Financial, LLC, has been appointed by the District Court in Ramsey County, Minnesota as receiver of The Preserve of Roseville senior housing community effective January 2, 2024. The Preserve of Roseville is a newly built 103-unit Independent Living, Assisted Living and Memory Care Community.
As court-appointed receiver, Certus will seek to stabilize operations and improve performance of the facility while identifying path(s) towards highest and best resolution for the creditor group.
Certus appointed Financial Advisor to EB-5 program Lender on single-family planned development in Fairfield, Texas.
Certus Financial, LLC, has been appointed as Financial Advisor to the Lender on a to-be-developed, 2600-acre single family housing community including significant common area amenities such as private lake, golf course, and clubhouses.
As an advisor, Certus aims to assess potential paths forward for the stalled development.
Certus announces successful conclusion of receivership and sale of Psychiatric Residential Treatment Facility for Youth
[EAST BETHEL, MN] — Certus Financial, LLC, a distinguished leader in healthcare and facility management, is pleased to announce the successful conclusion of the receivership of Cambia Hills of East Bethel, a Psychiatric Residential Treatment Facility for youth located in East Bethel, Minnesota.
Certus has achieved several significant milestones during its efforts as receiver, transitioning the building to a new operator:
- Cost Containment Measures: Certus implemented value-engineered cost containment measures to ensure preservation of the facility.
- National Marketing Search Program: A national marketing effort was conducted to facilitate the sale of the property, attracting qualified buyers from across the country.
- Restoration of Licensure: The primary goal of Certus was to restore the facility under its prior licensure with a qualified operator, ensuring the continuation of vital services for youth in need.
- Customized Adolescent Behavioral Health Facility: The facility is designed for highly functional, specialized residential care dedicated to adolescent behavioral health, providing tailored care to meet the unique needs of young individuals.
- National-Level Operators: The facility has been sold to an operator with a national presence who also carries a deep understanding of local logistics, ensuring seamless operations and community engagement.
- State-of-the-Art Building Systems: Throughout the receivership, Certus maintained the state-of-the-art mechanical and building systems to preserve the facility’s operational efficiency and safety.
- Collaboration with Local Authorities: Certus established a strong and productive working relationship with city, county, and state representatives to provide the necessary structure to support ongoing operations of the program.
Notably, as a result of efforts towards the Cambia Hills project Certus has recently been awarded the 2024 Turnaround of the Year Award by the MN Turnaround Management Association.
Certus appointed Financial Advisor on Grand Junction, CO Assisted Living and Memory Care Community
Certus Financial, LLC, has been appointed as Financial Advisor to indenture trustee on a 40-unit Assisted Living and 26-unit Memory Care Community in Grand Junction, CO.
As an advisor, Certus aims to organize a forbearance agreement and offer guidance to management to facilitate a successful revitalization of the community.
Certus appointed Financial Advisor of Austin, MN Senior Care Community
Certus Financial, LLC, has been appointed as Financial Advisor to Indenture Trustee on a distressed CCRC in Austin, MN which includes Independent Living, Assisted Living, Memory Care, and Skilled Nursing.
In its advisory role, Certus will work with management to stabilize operations and develop a structured forbearance agreement to lead a successful turnaround of the community.
Certus appointed General Receiver of Psychiatric Residential Treatment Facility for Youth in East Bethel, MN.
Certus Financial, LLC, has been appointed by the District Court in Anoka County, Minnesota as successor general receiver of Cambia Hills of East Bethel, a Psychiatric Residential Treatment Facility for youth.
As receiver, Certus will seek to relicense the community and work with state and local officials to ensure successful turnaround and sale of the facility to a new, qualified operator.