He said that there were about 50 parties that looked at it and 6 wrote offers. There is tremendous interest but the problem is financing. No surprise here since the facility has a history of losing money. The most recent buyer is supposed to be under contract by the end of the week. He is a cash buyer. Since the property is listed for $6 million, I don't expect his or her offer to be anywhere close to $6 million. If everything goes well, the transaction should close by the end of the year.
Of money going down the toilet in this arrogant folly that incorrectly assumed that more cup dates would be granted. The only good thing is any proceeds will have to be applied to current debt per bank agreements.