Wilmington Trust, N.A., as Trustee of the $29,615,000 Philadelphia Authority for Industrial Development Senior Housing Bonds, filed a mortgage foreclosure action against Pavilion Apartments PENN LLC (“Pavilion”). Wilmington Trust subsequently moved to appoint a receiver to manage the mortgaged property, a low-income senior housing project.
The Court held an evidentiary hearing on the Motion and on January 3, 2023, entered an order granting it.