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Parker McCay Forms Multi-Disciplinary Team to Close Asset Sale

Represented Seller in $20 million Continuing Care Retirement Community Sale and NJEDA Bond Redemption
July 2016

Parker McCay successfully represented a non-profit Continuing Care Retirement Community (CCRC) in the sale of its facility to a for-profit limited liability company.  Parker McCay was able to effectively bring this complex $20 million transaction to a close by drawing on a broad range of skills and experience from multiple practice areas. 

In addition to negotiating and finalizing the sale of the CCRC's corporate assets and real estate holdings, our team of attorneys successfully achieved an expedited “No Objection” letter from the New Jersey Office of the Attorney General in lieu of full cy pres judicial review of the transaction. Additionally, the Parker McCay team assisted the CCRC with the redemption of its $12,755,000 New Jersey Economic Authority (NJEDA) First Mortgage Revenue Bonds, Series 1998.

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