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Friendship Senior Options (FSO) is pleased to announce that it will retain ownership of GreenFields of Geneva and is currently finalizing the community’s refinancing.
In July, the bond trustee confirmed that FSO will retain control of GreenFields pursuant to a plan of reorganization to restructure its debt. FSO and the bond trustee expect that the plan, pursued over the last 24 months, will be finalized by the Court this fall.
‘We are pleased with this outcome which puts GreenFields on a sound financial footing and enables the continued employment of our associates and provision of outstanding service to our residents.” said Stephen A. Yenchek, president and CEO of Friendship Senior Options. “We’d like to thank our GreenFields family, including our neighbors throughout the Fox Valley, for their support and assistance as we worked through this process. Throughout its history, GreenFields has provided the best in services and a welcoming home for seniors. We are excited to continue this tradition for years to come.”
In 2010 the 75 and older population was 19 million. By 2020 the number is projected to reach 66 million.
—Administration on aging