---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-131706"
form_type: "8-K"
ticker: null
cik: "0001310383"
company_name: "Summit Healthcare REIT, Inc"
filed_at: "2024-12-26T23:59:59+00:00"
generated_at: "2026-05-28T23:13:33.585308+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Summit Healthcare transfers all GA8 properties to satisfy defaulted loans; removes $130.9M assets and $122.3M debt

## Summary
- Transferred all membership interests in Summit Georgia Holdings LLC and its eight GA8 properties to Oxford Finance LLC and CIBC Bank USA.
- Obtained full release of all guaranties on three loans with no further obligations; company resigned as manager of Holdco.
- Pro forma balance sheet removes $130.9M contract assets, $122.3M loans payable, and $8.5M accrued interest associated with GA8 Properties.
- Total assets shrink from $201.6M to $70.7M; total liabilities drop from $176.9M to $46.0M as of Sept 30, 2024.
- GA8 Properties had defaulted in March 2024; this disposal formalizes lender's control and eliminates ongoing exposure.

## SEC filing metadata
- accession: 0001104659-24-131706
- form_type: 8-K
- cik: 0001310383
- company_name: Summit Healthcare REIT, Inc
- filed_at: 2024-12-26T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 1.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1310383/000110465924131706/0001104659-24-131706-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1310383/000110465924131706/tm2432023d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-131706
- JSON: https://secwatch.observer/filing/0001104659-24-131706.json
- Plain text: https://secwatch.observer/filing/0001104659-24-131706.txt

## Key facts
- M&A Transactions
  Summit Healthcare REIT, Inc completed a disposition (closed 2024-12-20).
  - Action: disposition
  - Closing: 2024-12-20
  source text: Summit shall have transferred all of the outstanding membership interests in the Holdco and GA8 Properties to transferee and obtained the release of all guaranties from all three loans with no further obligations.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1310383/000110465924131706/0001104659-24-131706-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.