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Sussman Shank Lead Counsel on Complex $300+M Senior Housing and 1031 Tax-Deferred Exchange Transaction

May 28, 2015
Contact: Aaron Besen
Partner and Chair of the Health Care Group, 503.227.1111

Sussman Shank LLP served as lead counsel for both the sale of 9 assisted living, memory care, and independent living campuses in Washington, Oregon, and California to a publicly-traded REIT, and the acquisition of 11 single-tenant net lease properties.  This transaction was unique because it included both the sale of licensed senior housing facilities and a complicated 1031 tax deferred exchange transaction.   

The net lease replacement properties are medical, industrial, and retail properties located in Texas, South Carolina, Virginia, Colorado, Illinois, and Arizona. 

The total amount of both transactions exceeded $315,000,000.00.

"This was a high-level, complex transaction because of the interrelationship between the health care sale and the tax-deferred exchange acquisitions.  Our firm has the perfect mix of health care, real estate, and tax expertise to act as lead counsel in a deal of this complexity," says Aaron Besen, chair of the firm's health care group.

The Sussman Shank team consisted of Aaron J. Besen, Victor J. Roehm, and Matthew S. Parkin advising in the areas of Health Care, Real Estate, and Tax.

About Sussman Shank LLP
With more than 50 years of experience advising clients in corporate and commercial transactions, Sussman Shank attorneys have the breadth of experience and expertise to handle complicated business transactions efficiently and effectively for our clients.  Our firm clients include public and private companies, government entities, institutions, non-profit organizations, and individuals.  While we are based in the Pacific Northwest, we frequently represent clients in court proceedings and business transactions throughout the country.  Oregon Business magazine named Sussman Shank as one of the 2015 "100 Best Companies to Work for in Oregon."

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