From time to time, we like to take a break from reporting the headlines and tell you what our real estate attorneys, paralegals and consultants are working on across the country.
- Senior Housing Projects – We can’t say enough about the high level of senior housing activity right now. The public Real Estate Investment Trusts (“REITs”) are buying everything in sight, or so it seems. We’re working with several regional senior housing developers and operators on the disposition of senior housing communities to public REITs. We’re also working with one operator to establish ancillary health care services to be provided within their senior housing communities.
- Medical Outpatient Building (“MOB”) Projects – Hospital systems continue to sponsor new build-to-suit MOB projects across the country. We’re working on several right now. The projects tend to be owner-occupied and either funded entirely by the hospital or through nonprofit real estate foundations. We’re assisting with at least three projects located on new outpatient campuses being established by hospitals. Another MOB project is within a retail setting.
- Specialty Hospital Projects – Build-to-suit inpatient rehabilitation hospital projects are still making headlines. We’re working with one operator on a number of new projects. We’re also working with clients to reposition a behavioral hospital and several long-term acute care hospitals.
- Land Projects – Hospital systems continue to go big on land deals for new hospital campuses. We’re working with several hospital systems on large land transactions in growing markets. These projects are incredibly interesting and often involve unique land use and infrastructure components.
- M&A Projects –We are supporting clients in M&A transactions involving hospital system acquisitions and affiliations. Our real estate team is negotiating transaction documents and conducting real estate due diligence. In one matter, we’re advising a health system on the real estate aspects of an affiliation with a county-owned facility, including a ground lease, asset purchase closing, title and closing coordination and environmental issues. Another matter involves a multi-parcel legacy campus with layered ownership, decades-old ground leases and multiple assignments, amendments and unrecorded lease interests.
- Property Tax Exemption Projects – We are also helping nonprofit health care clients in several states navigate property tax exemption issues tied to new development projects. Several recent projects involved nonprofit clients who were able to obtain exemption from property taxes on newly constructed MOB improvements sitting on ground-leased land. Although state laws differ, if we’re able to help the local municipalities understand the nuances of the leasehold interests and development financing of these transactions, they can get behind the charitable nature of these arrangements and the clear public good that is provided to the hospital and the community.
- Portfolio Leasing Projects – More and more health systems have been relying on our team to help them navigate the high volume and high regulatory sensitivity surrounding their leasing portfolios. We have an excellent team with capacity to support the real estate, legal and compliance functions of our hospital clients in this area.
For additional information on this topic, please contact:
- Andrew Dick at adick@hallrender.com or (317) 977-1491;
- Joel Swider at jswider@hallrender.com or (317) 429-3638; or
- Your primary Hall Render or Hall Render Advisory Services contact.
Hall Render blog posts and articles are intended for informational purposes only. For ethical reasons, Hall Render attorneys cannot—outside of an attorney-client relationship—answer specific questions that would be legal advice.
