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)
Healthcare Real Estate Experience
Medical office buildings
Ambulatory surgery centers
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
- 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
- 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
- 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.