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NorthStar Realty Finance to Acquire Independent-Living Facility Portfolio
- Client News
- April 9, 2015
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.