Health Care Regulatory Advice for Maryland-based CCRC Operator
While at a previous firm, members of our Health Care team played a key role in the healthcare regulatory aspects of a private investment firm's acquisition of a Maryland-based CCRC operator with properties across the US. Following the closing, and continuing to this day at Miles & Stockbridge, our health care team provides comprehensive legal support to the client, advising across various critical areas including healthcare regulatory compliance, privacy, employee benefits, tax, corporate law, and several other specialized fields.
Outside General Counsel to CCRC in Baltimore
Serve as outside general counsel to a nonprofit continuing care retirement community located in Baltimore, MD. Our role is to provide legal and strategic advice on a wide range of matters, including nonprofit board governance, regulatory compliance issues, arrangements with third parties, employment matters, HIPAA, and resident issues.
Outside General Counsel to Maryland-based CCRC
Serve as outside general counsel to a nonprofit CCRC advising on regulatory compliance, employment matters, resident relations, board governance, and third-party arrangements. We are currently assisting with the establishment of a new Continuing Care at Home (CCaH) program — the first in Maryland to be affiliated with a CCRC — including corporate formation, nonprofit status, and regulatory approval. In 2023, we negotiated a strategic agreement with a major medical group affiliated with a Maryland health system to establish an on-site medical clinic for residents.
Secured $473 Million Financing for Development of Senior Living Community
Miles & Stockbridge’s Senior Living Services team was instrumental in representing underwriter HJ Sims in an approximately $473 million multi-tranche financing for the development of a rental senior living community in Irvine, California, the largest-ever single-site senior living bond issuance. The transaction involved senior municipal bonds offered publicly to accredited investors and qualified institutional buyers that were tax-exempt and federally taxable as well as two separate tranches of directly placed tax-exempt subordinate capital appreciation municipal bonds. JLL’s Capital Markets group arranged the deal for developer Harbert Bay South Partners; owner, P3 Foundation; and property manager, Momentum Senior Living. The community will include independent, assisted living and memory care units, multiple dining rooms, indoor pool and spa and therapy rooms, among other luxury amenities.
