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In a market weathering unprecedented change, companies involved in high-stakes real estate deals need a steady, trusted hand to guide them. They also need counsel who can help them find new solutions for tough new challenges. The Paul, Weiss Real Estate Department offers clients the best of both worlds. Our long history of executing every kind of deal touching real property and our business and legal savvy help the most complex real estate projects succeed in fluctuating economic conditions.

NorthStar Realty Finance to Acquire Independent-Living Facility Portfolio

Paul, Weiss client NorthStar Realty Finance Corp. (NRF) has entered into a definitive agreement to purchase an $875 million portfolio of independent-living facilities from Harvest Facility Holdings. The purchase of the portfolio, consisting of 32 private pay facilities, roughly 3,983 units located in 12 states, will be structured as a joint venture with NorthStar Healthcare Income. The transaction is expected to close in the second quarter of 2015.

The Paul, Weiss team included corporate partner Robert Schumer; real estate partners Harris Freidus and Salvatore Gogliormella; tax partner Scott Sontag; environmental counsel William O'Brien; and litigation partner Allan Arffa.

April 9, 2015

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