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Adeptus Health 363 Sale Approved

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The U.S. Bankruptcy Court approved Adeptus Health’s motion to sell property free and clear of liens, under Section 363(f).

As previously reported, “OpFree RE Investments, one of the Debtors, is the owner of certain real property located near Orion Place in the city of Columbus, Ohio, known as Permanent Parcel Numbers 318-442-02-026-003, consisting of approximately 5.952 acres. OpFree purchased the Property on or about November 21, 2014 for the amount of $2,810,585….In March 2017, OpFree received an offer from Drury Southwest, the ‘Buyer’ to purchase the Property for $3,000,000. After extensive negotiations, OpFree agreed to sell the Property to the Buyer…. The Buyer’s previous deposit of $50,000 will be applied to the Purchase Price.”

In addition, “The Buyer had until July 3, 2017 to make all inspections and investigations with respect to the Property and to terminate the Purchase Agreement by written notice. The Buyer did not terminate the Purchase Agreement, and the Debtors are therefore seeking approval of this transaction. The consummation of the transactions contemplated by the Purchase Agreement (the ‘Closing’) shall take place in the offices of Cardinal Title Agency, Inc. prior to 2:00 p.m. Dallas, Texas time on the date that is thirty days after the final day of the Inspection Period (the ‘Closing Date’).”

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