Matthew Jassak is a partner and real estate business lawyer with Foley & Lardner LLP and co-chair of the firm’s Post-Acute Care & Senior Housing Team. He regularly represents owners, operators, investors, and developers in connection with the development, acquisition, disposition, leasing, financing, and licensing of health care facilities.
As a member of the Real Estate Practice and Hospitality & Leisure Industry Team, Matthew also focuses his practice on representing investors, operators, and developers in all aspects of commercial real estate transactions, including the acquisition and disposition of retail, office, hotel and multifamily properties, commercial mortgage and construction financing, and joint ventures. Matthew also handles condominium formation, fractional ownership plans, private residence clubs, non-equity clubs, hotel conversions, state and federal filings, advertising, golf membership programs and other related matters in the hospitality sector.
In addition to his real estate practice, Matthew handles a wide variety of corporate law matters, including corporate formation; corporate operations and governance and other contract drafting, review and negotiation; mergers and acquisitions; and capital raising transactions.
Post-Acute Care and Senior Living
- Represented Sentio Healthcare Properties, Inc. in their sale to Kayne Anderson for US$825m.
- Represented a U.S.-based owner of nursing home facilities in the US$350m sale of 20 skilled nursing facilities and their underlying real estate in Florida, Georgia, and Mississippi as part of a larger portfolio of skilled nursing facilities.
- Represented a U.S.-based owner of nursing home facilities in the US$220m sale of 14 skilled nursing facilities and their underlying real estate in South Carolina.
- Represented Stonerise Healthcare in the sale of 18 skilled nursing facilities, home health and hospice agencies, institutional special needs plan, and therapy business.
- Represented a hospital and health care company in the US$150m sale of its long term and senior housing/continuing care retirement community (CCRC) portfolio.
- Represented a regional owner/operator in the sale of 13 assisted living and skilled nursing facilities for US$140m.
- Represented a Florida-based real estate investment trust in the US$91m acquisition of an assisted living portfolio in Florida; US$85m acquisition of an assisted and independent living facility in Alabama; and nearly US$32.7m acquisition of a senior living facility in Missouri.
- Represented a real estate investment trust as borrower in two separate Fannie Mae acquisition financings of assisted living facilities for more than US$125m.
- Represented a developer, owner, and operator of retirement, assisted living, and memory care communities in the US$112m sale of three assisted and independent living facilities in Ohio to a health care infrastructure REIT.
- Represented a senior living management and consulting company in the more than US$110m sale of three CCRC facilities in Texas.
- Represented a developer, owner, and operator of retirement, assisted living, and memory care communities in the US$104m sale of four assisted and independent living facilities in Indiana to a health care REIT.
- Represented a long-term care company in the sale leaseback of three skilled nursing facilities in Massachusetts to a public REIT for US$100m.
- Represented the owner of long-term living facility in the US$54m sale of nursing facilities in Florida and New Jersey.
- Represented a long-term care company in the US$54m sale of an assisted living and skilled nursing facility in New Jersey.
- Represented a client in the joint venture acquisition of a US$49m portfolio of four assisted living facilities in Illinois and Texas.
- Represented a client in the acquisition of a US$42.5m 246-unit senior housing community in Colorado.
- Represented an owner and operator of post-acute, rehabilitation, and skilled nursing centers in the US$42.5m sale of three skilled nursing facilities in Massachusetts.
- Represented a client in the US$38.1m acquisition of a 227-unit senior living community in Woodbury, New Jersey.
- Represented a senior living center in the US$35m sale of two assisted living facilities in Michigan.
- Represented owner in the US$23m sale of a skilled nursing facility in Indiana.
- Represented a client in the joint venture development of a US$22.4m 142-unit continuum of care facility in Missouri.
- Represented a Florida-based real estate investment trust in the US$21.5m sale of an independent living facility in Central Florida.
- Represented a client in the joint venture acquisition of a US$15.55m 85-unit assisted living/memory care senior living community in Boston.
- Represented a senior care nursing operator in connection with the sale of a 120-bed senior skilled care nursing facility in Massachusetts.
Hospitality & Leisure/Real Estate
- Represented Marriott Vacations Worldwide in their US$4.7bn merger with timeshare operator ILG.
- Represented Hilton Grand Vacations in a definitive agreement to acquire Diamond Resorts International for approximately US$1.4bn.
- Represented a national hospitality brand in its acquisition of historic New York City Boutique Hotel, The Quin, for US$175m.
- Represented a real estate developer in connection with a US$100m joint venture to develop a mixed-use residential and retail development property with 141 rental apartments in the Park Slope neighborhood of Brooklyn.
- Represented a real estate sponsor in connection with the US$29m disposition of income-producing multifamily properties in New York City; following the prior representation for the acquisition, financing, and joint venture of these properties.
- Represented a real estate sponsor in connection with the US$21m sale of an apartment building in Brooklyn.
- Represented a real estate sponsor in connection with the US$15.4m purchase of four income-producing multifamily apartment buildings in Harlem in New York City.
- Represented a national hospitality brand in the development and acquisition of a 150-room build-to-suit property in New York City.
- Represented a regional hospitality operator in acquisition and redevelopment of a historic hotel in South Lake Tahoe, Nevada.
- Represented an investor syndicate in connection with the acquisition, financing, and investment in an assemblage site of approximately 20,000 square feet in the Soho area of Manhattan, New York City.
Awards and Recognition
- Named a Florida Trend™ “Legal Elite” (2018)
- Selected by the Legal Aid Society Board of Trustees as a recipient of the Guardian ad Litem Award of Excellence (2013)
- Member, board of the Garden Theatre, located in Winter Garden, Florida
Presentations and Publications
- Co-author, “Consider This Before Jumping into the Seniors Housing Market,” National Real Estate Investor, January 2017
- Co-author, “What Does It Take to be a Winner in the Senior Housing Market?” Multi-housing News, November 2016
- Co-author, “How Hotel Developers Can Break Into Senior Housing,” HOTELS, October 2016
- Contributing Author, “Post-Acute Care Handbook: Regulatory, Risk, and Compliance Issues,” American Health Lawyers Association, January 2015
- Co-author, “The Fee-For-Service Model: A Beacon of Hope,” Florida Real Estate Journal, May 2011
- Co-author, “Think Twice Before Releasing Control of Condo Association,” Florida Real Estate Journal, Vol. 17, No. 14, November 2009