HCMP has an active and experienced practice representing developers and operators of senior living communities in both real estate and corporate financing matters. Our public finance attorneys have represented borrowers in a variety of financings and refinancings of such communities, including tax-exempt bond financing for nonprofit entities. And our real estate group advises both for-profit and nonprofit entities on project-related transactions, including acquisitions, development, and construction, and operational matters such as leasing and management. Recent examples include:
- Serving as lead real estate counsel to Transforming Age, a nonprofit organization that operates senior living communities throughout the United States. Our team assisted Transformation Age in a number of projects, including a $138 million bond-financed acquisition of eight operational properties in Minnesota, the sale of the “Exeter House” property in Seattle, and the acquisition of a future development site in downtown Seattle.
- Representing Bayview Retirement Community in obtaining tax-exempt financing from the Washington State Housing Financing Commission for a $60 million expansion of its campus in Seattle’s Queen Anne neighborhood.
- Assisting senior living communities in Washington, Oregon, and Minnesota obtain tax-exempt and taxable bond financing for construction and expansion of new and existing facilities. This includes the Franke Tobey Jones community in Tacoma, the Skyline, Park Shore Manor, and Fred Lind Manor communities in Seattle, Mirabella Portland, and Cascade Manor in Eugene, Oregon.
Our broad expertise in business, real estate, and public finance translates to comprehensive legal counsel through all life cycles of senior living projects, from entity formation to financing, acquisition, and disposition.