BRIEF-Quality Care Properties Enters into forbearance agreement with HCR ManorCare
April 5 Quality Care Properties Inc
* Entered into a forbearance agreement with its principal tenant, Hcr III Healthcare, Llc and its parent HCR Manorcare
* Agreement would require HCR Manorcare to make cash rent payments of $32 million for each of April, May, June of 2017 - SEC filing
* Agreement requires HCR Manorcare to deliver 2016 audited financial statements, auditor consent to QCP not later than april 10, 2017
* To provide HCR Manorcare with temporary secured extension of credit of upto $7 million/month during each of april,may, june of 2017
* During agreement's term, co, HCR Manorcare intend to engage in discussions concerning long-term restructuring of master lease terms
* 2016 audited financial statements, auditor consent of HCR expected to include 'going concern' exception for HCR Manorcare Further company coverage: