BSPV-Plano receives final approval of $1 million DIP facility

By Sarah Lizee

Olympia, Wash., April 22 – BSPV-Plano, LLC received final court approval of a $1 million debtor-in-possession facility, according to a final order filed Wednesday with the U.S. Bankruptcy Court for the Eastern District of Texas.

The lender is DCJ Capital, LLC, an entity affiliated with the equity sponsors of BSPV-Plano, as previously reported.

The facility carries simple interest of 4½%, paid monthly, and matures on Dec. 31.

The company also received court approval to access cash collateral.

The Plano, Tex.-based company was formed in May 2018 to acquire, own, develop and operate an independent senior luxury apartment community known as the Bridgemoor at Plano. It filed Chapter 11 bankruptcy on March 1 under case number 22-40276.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.