Senior Housing and Healthcare Real Estate

Senior housing and healthcare real estate are an important part of McGuireWoods’ real estate practice. We have more than 100 real estate lawyers, urban planners and paralegals who serve clients ranging from closely held, community-based businesses to Fortune 100 companies. We handle transactional and land use matters across the United States and abroad, and our clients include purchasers, sellers, developers, lenders, tenants, landlords, brokers, and individual and institutional investors on all sides of real estate transactions, including single-asset and multistate portfolio transactions, and in all types of zoning and land use matters. We bring our broad-ranging experience to bear in representing our clients in senior housing and healthcare real estate matters.

Clients and peers recognize McGuireWoods lawyers among the top practitioners in the field. In interviews with clients across the country, Chambers USA describes our partners as “very exceptional,” “totally dedicated” and focused on “looking for solutions to problems.” In its annual “Best Law Firms” list, U.S. News & World Report includes McGuireWoods as a National Tier 1 firm in the Land Use & Zoning Law Category and ranks us among the top national and local firms in real estate law.

Senior Housing Real Estate Experience

  • Age-restricted residential developments
  • Continuing-care retirement communities (CCRCs)
  • Assisted-living facilities
  • Memory-care facilities
  • Skilled-nursing facilities

Healthcare Real Estate Experience

  • Hospitals
  • Medical office buildings
  • Ambulatory surgery centers
  • Medical laboratories
  • Clinics

Senior Housing and Healthcare Real Estate Services

Acquisition and Disposition. Our lawyers regularly manage all aspects of the acquisition and disposition of senior housing and healthcare facilities, including structuring deals to align transactions with our clients’ goals; formation of joint ventures or other ownership entities; negotiation of purchase and sale agreements; conducting due diligence review and analysis of title and survey matters, zoning and other land use entitlements, environmental assessments, leases and contracts; negotiation of management agreements, leases and loan arrangements, including acquisition financings, refinancings and defeasance transactions and coordination of all aspects of the deal .

Land Use Entitlements and Incentives. We assist clients with rezoning, site plan approvals and other land use matters, including pre-plan submission due diligence, meetings with planning staff and other governmental officials, negotiation of proffers, outreach to neighbors and other stakeholders, public meetings and negotiation of REAs. We also work with governmental entities to secure incentives for senior housing and healthcare facility developments where available, including real estate tax abatements and other incentives.

Construction and Development. Our real estate lawyers negotiate site development agreements, architect’s agreements and construction contracts. We also advise clients on insurance and indemnity matters during construction and on the resolution of mechanics’ liens and other construction disputes.

Financing. McGuireWoods’ real estate team regularly represents borrowers and lending institutions in bilateral loans to finance a single facility or multiple facilities, including acquisition loans, construction loans and term loans, as well as loans with Fannie Mae, Freddie Mac, and the Department of Housing and Urban Development. We handle complex syndicated loans for the senior housing and healthcare industry, secured by multiproperty portfolios, in which we represent the administrative agents and arrangers of such credit facilities or borrowers ranging from major hospital systems and healthcare REITS to private equity funds and closely held healthcare or senior housing companies.

Leasing. Our representation of landlords and tenants of healthcare facilities includes ground leases, space leases for physician practice groups and master leases of healthcare facilities, together with various ancillary documents such as estoppel certificates and subordination, nondisturbance and attornment agreements. Our leasing lawyers know the issues that may affect the terms of health facility leases, such as the Stark Law, the Anti-Kickback Statute, reciprocal easement agreements for the use of common areas on hospital campuses, and agreements between hospitals and physicians and between physicians restricting or requiring certain uses and services.

Representative Senior Housing and Healthcare Real Estate Transactions

  • Representation of a physician group in the sale of its medical office building in San Antonio, Texas, to a real estate investment trust.
  • Representation of the owner in the sale of three skilled-nursing facilities in the mid-Atlantic
  • Representation of the borrower in refinancing an existing HUD loan secured by a skilled-nursing facility.
  • Representation of the borrower in two construction loans to finance the construction of an assisting-living facility and a memory-care facility.
  • Representation of an institutional lender in a $200 million syndicated credit facility secured by seven hospital properties in Texas, Michigan, Rhode Island, Florida, Nevada, Alabama and New Jersey.
  • Representation of an institutional lender in a $93 million syndicated loan secured by seven skilled-nursing facilities and assisted-living facilities in Indiana and Kentucky.
  • Representation of an institutional lender in a $44 million syndicated credit facility secured by eight hospitals in Oklahoma, Arizona, Louisiana, Massachusetts and Pennsylvania.
  • Representation of an institutional lender in a $43.7 million construction loan for an assisted-living facility in New York.
  • Representation of the borrower in a HUD loan to finance an age-restricted multifamily housing project in Chesapeake, Virginia.
  • Representation of an institutional lender in a term loan and revolving credit facility for the acquisition and operation of seven skilled nursing facilities in Massachusetts, Pennsylvania and New Hampshire.
  • Representation of the owner in connection with engineering and construction agreements for a memory-care facility and an assisted-living/memory-care facility.
  • Representation of senior living facilities owner/operator in the acquisition of UK care homes valued at c£80 million using a UK joint venture real estate investment trust (REIT) listed on the Channel Island Stock Exchange.
  • Representation of Canadian senior living facilities owner and operator in senior and mezzanine debt financing for development of senior living facility in Ascot, UK with acquisition option once operational.
  • Representation of senior living facilities owner/operator in joint ventures with US REIT in connection with the acquisition and development for long term investment of care home developments and UK care home business.
  • Representation of the owner in connection with a construction agreement for a prostate cancer center in Chicago, Illinois.
  • Representation of the owner in connection with an architect’s agreement, space planning consultant agreement, IT infrastructure agreement, construction agreement, construction manual, art curator/procurement, move consultant agreement, image licensing and testing and inspection services for a major regional hospital facility.
  • Representation of the owner in connection with construction contracts and construction management agreements for a surgical center, a medical office building and a hospital in Chicago, Illinois.

 

CONTACTS

Nancy R. Little Partner T: +1 804 775 1010
Nancy R Little Nancy R. Little
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 1010
F: +1 804 698 2101
vCard
Charles L Menges Charles L. Menges
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 4331
F: +1 804 698 2119
vCard
Edmund S Pittman Edmund S. Pittman
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 1038
F: +1 804 698 2141
vCard
Matthew P Rash Matthew P. Rash
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 4300
F: +1 804 698 2121
vCard
James A Thornhill James A. Thornhill
Partner
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916

T: +1 804 775 1163
F: +1 804 698 2191
vCard