Hospice
We began investing in hospice in 2007. We most recently acquired the New Jersey, Georgia and Oklahoma assets of American Hospice Management Holdings through the Delaware bankruptcy court. AHM was represented by Dentons with investment banking advisory Harris Williams & Co. 363 Capital, LLC was advised by bankruptcy lead counsel Mike Held of Jackson Walker and healthcare lead counsel Jennifer Papapanagiotou of Liles Parker.
Assisted-Living Facilities
The silver-tsunami created by an aging baby boomer population has developed a growing yet complex industry. Consolidation has stabilized some providers while destabilizing others, making them vulnerable to financial failure.
363 Capital acquires distressed facilities including assisted living, hospice inpatient units, continuing care retirement communities and skilled nursing facilities.
Financial Instruments
Analysis of distressed financial instruments is a core competency of 363 Capital. We invest in a variety of financial instruments including:
- Real estate mortgages, notes and portfolios
- Accounts receivable
- Insurance policies and annuities
- Structured settlements
- Business ownership interests
Aviation
We began investing in aviation assets in 2013, as a result of the Avantair, Inc. bankruptcy in the Middle District of Florida (Tampa Division). We were initially attracted to the design and efficiency of this fleet of Piaggio Avanti aircraft and ultimately traded in two-dozen aircraft; eventually acquiring three complete Avanti IIs from the 52-plane fleet; and partnering with Intercontinental Jet Services in order to recertify them to FAA standards. 363 Capital’s counselors in the matter were Luis Martinez-Monfort and Keith W. Meehan from Gardner Brewer Martinez-Monfort. The Chapter 7 Trustee in the Avantair matter was Beth Ann Scharrer with Trustee counsel Lynn Welter Sherman of Adams & Reese.
Real Estate
We limit distressed real-estate purchases to multi-family, university student housing and resorts and lodges. 363 Capital does not acquire single-family homes; however, we do acquire mortgages and other real-estate backed financial instruments.
Our most recent acquisition was of a northern Minnesota resort with lead counsel provided by Jennifer Carey at Hanft Fride. After significant financial restructuring and with the help of excellent local management, the resort now thrives and serves as the vacation destination for about 500 families per year.