Davis Polk advised The Related Companies, L.P. on its joint venture with Atria Real Property Investors, LLC to acquire, develop, redevelop, operate and manage luxury senior assisted living, memory care, enhanced care and elderly independent living projects in major gateway cities worldwide, including an initial project in the Cathedral Hill neighborhood of San Francisco, California. The initial project will be developed with approximately 247 units of age-restricted housing for seniors, approximately 11 townhome units and approximately 6,495 square feet of groundfloor retail. Related and Atria Real Property Investors expect to achieve substantial completion of the initial project by December 2021.

Related is one of the nation’s premiere real estate development firms. Headquartered in New York City, Related’s existing portfolio of real estate assets is valued at more than $50 billion.

Atria Real Property Investors is an affiliate of Atria Senior Living, Inc., a privately held management company operating monthly rental apartments for seniors across 201 communities in 27 states and 7 Canadian provinces. Headquartered in Louisville, Kentucky, Atria Senior Living, Inc. operates over 23,000 units for over 21,000 residents.

The Davis Polk real estate team included partner Brian S. Lichter. Counsel Leslie J. Altus provided tax advice. All members of the Davis Polk team are based in the New York office.

Atria Real Property Investors was advised by Fried, Frank, Harris, Shriver & Jacobson LLP.

Seyfarth Shaw LLP advised Related on certain management-related matters.

Atria Senior Living, Inc. was advised in-house on certain management-related matters

Copy link to share post