Jonathan R. Harris’s practice includes representation of banks and other institutions in letter of credit and standby bond purchase transactions supporting variable rate demand bonds, direct purchases of tax-exempt issues and conventional loans to borrowers in the education, healthcare, social service, senior living and cultural institutions space. He also represents owners and managers of senior living communities.
Jon closed a complex financing for the expansion of a continuing care retirement community. This transaction required creativity to weave the new financing into the rights created by an existing long-term bond issue, a ground lease and other existing documentation.
Working against a year-end deadline, Jon helped to shape and guide to fruition a major construction financing for a venerable Massachusetts museum.
Jon has many years of experience in the national senior living arena. In that role, he travels to California, Arizona, New Jersey, Pennsylvania, upstate New York and other locations closing financings for independent living facilities, assisted living facilities and continuing care retirement communities.
Recently, Jon represented the purchaser/borrower in a transaction involving the acquisition of a 168-unit independent living facility in a Chapter 11 bankruptcy proceeding and the financing of such purchase with equity contributions from an institutional investor and debt financing from a real estate investment trust. This transaction was notable in that it involved structuring for proposed future development while taking into account the rights of existing residents and state and local regulatory authorities.