By Sara Beth Williams–
A memory care facility in Citrus Heights has avoided an extended legal process involving receivership and is reportedly looking to finalize a sale, according to commercial real estate company Hilco Real Estate Sales.
The Sacramento Business Journal reports that The Courte in Citrus Heights has avoided a receivership, which involves a neutral third party being appointed by a court to manage, stabilize or sell a property or business. The agent representing the memory care facility is now reviewing buyer submissions from June and is expected to select a buyer soon, The Journal reported.
The 48-bed memory care facility was previously listed for sale in early 2025 according to prior reports. The listing has since been removed from commercial real estate site LoopNet. According to the previous listing description, Hilco Real Estate Sales was accepting bids for the memory care facility until June 12.
The 27,768-square-foot senior living community located on Sunrise Boulevard specializes in memory care, helping patients with Alzheimer’s and dementia, the company’s site shows. The facility opened in late 2016 after being approved in early 2015.
A lawsuit was filed against the facility in January, in which Beyond Loan 5 LLC alleged a loan default of over $9 million. An amended motion filed Feb 12 in Sacramento County Superior Court against The Courte in Citrus Heights asked the court to appoint a receiver to manage the facility, with agreement from the borrower.
The suit stated that a receivership would avoid formally foreclosing on the property. However, the lender has since dropped the suit against Citrus Heights Memory Care LLC. Steve Madura, a senior vice president at Hilco Real Estate Sales, told the business journal a lender is “involved in the plan to sell the property as a way to get repaid.”
Management at The Courte in Citrus Heights said in a phone call in February they do not handle media inquiries and directed requests for comment to Frontier Senior Living.
A website for Citrus Heights Memory Care appears to be active again. Apartment units cost $5,650 per month, according to the website.
Frontier Senior Living, the management company for the facility, lists only a physical address in Dallas Texas under company contact information and could not be contacted by The Sentinel for comment.
