The Telegraph Herald reports two prospective buyers have stepped forward for senior living properties previously run by a Dubuque nonprofit organization.
Court documents filed show an offer for the Luther Manor Communities on Hillcrest Road and Grand Meadow Drive in Asbury have been for close to 30-million dollars.
Luther Manor was placed into receivership last August after failing to pay back nearly 16-million dollars in loans. The facilities since have been managed by Walnut Creek Management Company.
The documents show Tutera Senior Living and Health Care put in a $21.3 million dollar offer for the Asbury campus, which includes the skilled nursing and assisted living and 48 adjacent townhomes for older adults.
The Hillcrest campus received an $8.5 million offer from the newly formed 3131 Hillcrest Propco LLC for the facility that includes 103 skilled nursing beds and 32 independent living units.
