Sierra
Country Club, Bishop, CA
Sierra Country Club is a 120-unit retirement
facility located in Bishop, CA. In 1992, the
court appointed CRMS receiver and manager of
this facility. Annual revenues for this facility
were $1 million and annual operating costs were
$780,000. CRMS reorganized the Club's operations
and operated it until July of 1994 at which
time the facility was sold on behalf of the
FDIC.
Hacienda, Fresno,
CA
The Hacienda is a 285-unit multi-level care
facility located on 17 acres in Fresno, CA.
The lender retained CRMS in 1992 to act as
a consultant and management firm for a pending
foreclosure. Hacienda required a financial
and operational restructuring. CRMS operated
this facility until May of 1994 at which time
the lender reorganized it’s operating
business. As a note, revenues increased from
$1.0 million in 1991 to $2.76 million in 1993.
Medical Home Health Care Corporation, El Paso,
TX
Coopers & Lybrandt accounting firm retained
CRMS to act as oversight management for the
home health agency and durable medical equipment
facility. MHHC generated over $3 million in
gross billings and provides over 150,000 visits
per year. CRMS operated this facility from
October of 1993 until May of 1994 when sold.
Ferncrest Manor,
New Orleans, LA
CRMS operated Ferncrest Manor, a 340-bed skilled
nursing facility generating $3.6 million in
annual revenues, under a consulting and management
contract with the Resolution Trust Corporation
(RTC). CRMS acted on behalf of the RTC to
evaluate and oversee the operations of this
facility during a transition of ownership.
This facility was sold September 1, 1994.
The Palms, Loma
Linda, CA
CRMS acted as management under contract in
behalf of the courts as receiver for this
facility. The Palms is a 150-unit multi-level
retirement community.
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