Cory Macdonald assists senior living and health care providers with financing, licensing, regulatory compliance, and complex transactions. Cory represents buyers and sellers of senior living facilities and frequently serves as Texas counsel for national companies with regard to financing, acquisition, and licensing of Texas facilities.
Continuing care/life plan communities (“CCRCs”) are a specific area of focus. In Texas, these communities are regulated by the Texas Department of Insurance and typically offer entrance fee contracts. Most CCRCs contain independent senior living, assisted living, and skilled nursing care. Cory serves as counsel for many CCRCs, assisting with resident agreements, tax-exempt bond financing, expansion project contracting, and other legal matters unique to CCRCs.
Cory serves as outside counsel to various nonprofits, including state associations, senior living and health care providers, grant-making organizations, churches and preschools. In this capacity, Cory advises his nonprofit clients on corporate and governance matters, formation of affiliated entities including supporting organizations, compliance with 501(c)(3) requirements, eligibility for property tax exemption, and real estate transactions.
Cory has served on the LeadingAge Legal Committee for over 15 years. This committee, affiliated with the national association of nonprofit senior living providers, consists of attorneys that represent state associations or are otherwise active in the industry. As state association counsel and as a participant in various work groups and committees, Cory has played a key role in crafting legislation and regulations that impact the long-term care and senior housing industry.
Cory received his J.D. from the University of Texas School of Law, an M.P.Aff. from the L.B.J. School of Public Affairs, and a B.A. from the University of Texas. He has been named a Texas Super Lawyers Magazine Rising Star.
- Assisted with real estate and regulatory matters in connection with financings involving long term care and senior living providers, including tax-exempt bonds, HUD-insured loans, traditional commercial loans, and accounts receivable financing.
- Represented buyers, sellers, operators and managers in the transfer of numerous healthcare facilities and senior living communities, ranging from single sites to entire state portfolios.
- Advised and assisted operators, lenders and other parties with the “change of ownership” process, including state licensure and Medicare/Medicaid certification.
- Represented nursing facility organizations in regard to participation in the Upper Payment Limit (UPL) Supplemental Payment Program, the Nursing Facility Minimum Payment Amount Program (MPAP), and the Quality Incentive Payment Program (QIPP).
- Drafted 10% Deposit Agreements (Reservation Agreements) and Residency Agreements for numerous Texas Continuing Care/Life Plan Communities (CCRCs), including agreements designed for specific expansion projects.
- Advised organizations on best practices in nonprofit governance, Fair Housing Act compliance, and risk management.