Long-Term Care and Senior Housing
Increased life expectancy and the aging baby boomer generation are amplifying demand for long-term care and senior housing. The industry already faces headwinds from declining Medicare and Medicaid reimbursement, government policies favoring non-institutional care, a continual increase in the complexity and burden of state and federal regulations and an aging infrastructure. These challenges impact a company’s ability to provide nursing care and assisted living, and the impact will likely intensify in the future.
Taft attorneys have more than 60 years of combined industry experience in transactional and regulatory aspects of long-term care. We are often able to place interested buyers, sellers and operators in positions to create mutually-beneficial transactions. Our access to attorneys in other practice areas, including labor law, litigation, real estate, financing, tax and white collar criminal defense, puts us in a unique position to fulfill a wide range of client needs in a coordinated and integrated manner. Taft’s transactional attorneys are also involved in the day to-day operational legal needs of our long-term care industry clients, and we use our years of experience in informing clients of their options when considering purchases, sales and leases.
Companies in the long-term care and senior housing industry provide long-term skilled nursing care, other types of care and social services in residential facilities. Services we provide to our clients in this industry include:
- Transaction structural planning.
- Negotiation and drafting of nursing facility, assisted living facility and senior housing purchase agreements, lease agreements and management agreements.
- Loan document negotiation and drafting with private lenders, REITs and government-backed lenders (such as HUD).
- Local counsel advice to regional and national companies, including opinions on various state-specific matters.
Representative matters for long-term care and senior housing industry clients include:
- Single and multiple facility sales and lease transactions.
- Negotiation and drafting of bed operating right sales and purchase agreements.
- Certificate of need application preparation and appeals prosecution.
- Assistance in financing and re-financing senior housing properties.