Joshua S. Pasker

Select representations:

• Served as bond and borrower's counsel to an operator of nursing care facilities and provider of health care services in the public offering of $50 million of bond anticipation notes. The deal will enable the entity to finance the construction of a new $30 million assisted living facility on its Pennsylvania campus and to refinance all of its existing debt. In addition, we helped the client create a "Planned Community" under the Pennsylvania Uniform Planned Community Act, obtain a $6.6 million loan from the Pennsylvania Department of Community and Economic Development, obtain a commitment from the U.S. Department of Agriculture for $40 million of permanent financing for the project, and obtain a $1.5 million line of credit for working capital.
• Served as bond and borrower's counsel to a large owner, operator and developer of continuing care retirement communities in the United States in connection with a multi-state public finance transaction aggregating $167.81 million. The financing involved the issuance of five separate series of tax-exempt bonds across Pennsylvania, Delaware, Florida, South Carolina and North Carolina. A portion of the transaction in the amount $104.13 million was publicly offered through three separate bond issuers while the remainder of the transaction, $63.68 million, was directly placed with a large lend¬ing institution. This financing was an integral part of management's efforts to reinvest in its communities and refinance certain outstanding debt.