Senior living nonprofit Covenant Living has entered into a purchase agreement to buy a CCRC in New Hampshire that recently filed for chapter 11 protection, SeniorHousingNews.com reported. The organization behind the continuing care retirement community (CCRC), The Prospect-Woodward Home, filed for chapter 11 protection in New Hampshire, where the community is located. Covenant is seeking to become a stalking-horse bidder in the community and participate in a court-supervised auction that could result in higher bids or offers, according to a press release from the Skokie, Ill.-based operator. Covenant is one of the largest senior living nonprofits in the United States with a portfolio of 18 communities in nine states. Covenant would pay $33 million for the community under the agreement, court documents show. The 222-unit CCRC, Hillside Village, came under financial duress last year amid restrictions to protect against the COVID-19 pandemic.
