Senior Living
Real Estate
We are expert in the special issues associated with investment and development of senior living facilities, including licensing, employment issues, rent restrictions, ancillary sources of revenue and zoning. Representative transactions include:
- Formation of joint venture with an Australian real estate investment company, in a $435 million recapitalization of an assisted living venture.
- Formation of a joint venture to acquire multiple properties. The joint venture was structured to comply with Islamic finance laws.
- Formation of a joint venture to acquire a portfolio of 20 senior housing properties.
- Acquisition of leasehold interests in, and options to purchase, a portfolio of four senior housing properties involving tax credits and financing from Massachusetts Housing Finance Agency.
- Representation of a public REIT, in a joint venture with a state pension fund, to acquire a portfolio of 13 skilled nursing and assisted living facilities in Massachusetts and Rhode Island.
- Closing on an investment by a joint engagement by three investment funds in a development project for a $200 million continuing care retirement community. We provided joint venture, real estate, senior living, tax and other advice.
- Representation of a private equity firm in the disposition of a portfolio of 16 senior living facilities, valued at $370 million and located in six states. The facilities were owned in joint ventures with five different operating partners and were investments in three separate portfolios. We addressed licensing matters, HUD loan assumption issues and fiduciary duty issues.
- Currently serving as counsel to a newly formed senior living fund sponsored by a private equity firm in its acquisition of senior housing units throughout the United States.