June 3, 2012
Our firm has been acquisition and financing counsel for Millennium Management, L.L.C. (“Millennium”) located in Miami, Florida for over five years. Millennium owns, operates, leases and manages skilled nursing homes and assisted living facilities in many states.
On May 31, 2012 our firm represented Millennium on its most recent nursing home portfolio acquisition. Such acquisition was from the Seniors Management North, Inc. nursing home company located in Cherry Hill, New Jersey.
This recent acquisition was of a portfolio of three skilled nursing facilities located in Florida (two in Miami and the third in Ocala) having a total of 480 licensed beds. The purchase price for this acquisition was in excess of $35,000,000 and the purchase was financed in part by a loan made by Regions Bank.
In connection with such acquisition, each one of the acquired facilities was net leased to a different operator. Our firm also handled the drafting and negotiating of all such net leases.