U.S. Bankruptcy Tracker: Second Straight Week of Distress Growth

April 14, 2022, 7:59 PM

The owner of Edgemere Dallas, a municipal debt-financed retirement community, filed for Chapter 11 protection Thursday in Dallas, and simultaneously brought a lawsuit against its landlord for claims including breach of contract and promissory fraud.

Edgemere’s landlord, Intercity Investments, and its agent Kong Capital are both named in the lawsuit. Edgemere parent Lifespace Communities hasn’t filed for bankruptcy and will continue to own and operate it throughout the Chapter 11 process.

In the complaint, Edgemere accused Intercity and its adviser, the private equity firm Kong Capital, of interfering with Edgemere’s business by making false and malicious statements to …

Eliza Ronalds-Hannon

Bloomberg News

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Found At: Edgemere Senior Home Files for Bankruptcy, Suing Landlord (1)

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