Overview

Novack Burnbaum Crystal has represented clients in a broad range of real estate and development matters, offering a full range of services related to the purchase, sale, leasing, development, financing, joint venture, syndication, use, and management of real property and real estate portfolios. We handle transactions relating to all sectors of real estate, including acquisitions and sales, development, leasing, management, commercial, industrial, residential, hospitality, mixed-use properties, workouts and foreclosures, reorganization transactions, joint ventures, formation and structuring of real estate investment entities, and real estate financing, including secured senior and mezz financing. We represent several large private real estate owners and developers in the country. NBC also has significant real estate litigation experience.

Recent Matters

  • Represents Prestige-Madison-Northpoint Healthcare in its:

    • purchase of the Medilodge 15 skilled nursing facilities in Michigan in a REIT-financed transaction.
    • purchase of operations of 33 healthcare facilities in Michigan and Ohio acquired from Extendicare.
    • acquisition of real estate and operations of various skilled nursing portfolio properties in both REIT and non-REIT transactions in Pennsylvania, Massachusetts, North Carolina, Michigan, Kentucky, Wisconsin, Ohio, Indiana, and Tennessee.
    • formation and documentation of Gencare, a group purchasing organization.
    • financing of a rehabilitation services company.
  • Represents the prominent real estate investment firm Cammeby’s International and the Schron family and their various affiliated entities:

    • as transaction counsel in a $940 million and $120 million CMBS tiered debt financings involving 186 properties.
    • as the option seller of one of the largest portfolio of skilled nursing and other care facilities in the United States, in a complex and multifaceted transaction.
    • as the finance and investment partners for a portfolio of real estate underlying a group of 35 facilities located in Texas and Pennsylvania.
    • as transactional counsel in connection with a complex civil dispute concerning the control of one of the nation’s largest healthcare real estate, long-term care, and ancillary companies.
    • as finance counsel in connection with HUD and conventional refinancing totaling  several hundred million dollars.
    • as transaction counsel in a $128 million bridge to HUD financing.
    • as transaction counsel in the divestiture of properties in several states.
  • Represents Absolut Facilities and affiliates, a provider of skilled nursing services in a portfolio of homes in New York State, with respect to various acquisitions in New York and other states.

  • Represented the private equity investment group purchaser of Mobilex USA from the Integrated Health Services, Inc. bankruptcy proceeding. Once acquired, represented Mobilex USA in its:

    • purchase of various ancillary service providers, including diagnostic and portable X-rays, ultrasound, and labs.
    • reorganization and sale to private equity groups Audax and Frazier Healthcare in a transaction valued at $150 million.
  • Represents various owners of long-term healthcare and assisted living facilities in New York, New Jersey, Pennsylvania, Florida, Massachusetts, Kentucky, Indiana, Ohio, Michigan, Nevada, Texas, Nebraska and Washington D.C. handling acquisitions, divestitures, and various real estate and asset-based financings, including REIT and HUD-insured financings.

  • Negotiated commercial leases for medical practices and others as tenants and cooperative as landlord.

  • Represented global hospitality company in connection with numerous contemplated and completed real estate acquisitions and resort developments in Spain, Greece, Switzerland, London, Dubai, Thailand, Singapore, and China, including the acquisition of several resort properties that comprised the inventory for a new vacation points club business.

  • Represented an international real-estate private equity fund in connection with numerous investments and joint ventures in the Asia region, including the joint venture and financing of an office building in Singapore.

  • Represented a mortgage real-estate investment trust in connection with its out-of-court restructuring of its subordinated debt.