$21 Million Mortgage Loan for Water Park in West Palm Beach

Sabadell United Bank

Representation of Sabadell United Bank in preparation and closing of $21 million mortgage loan to affiliates of Orlando-based real estate investment trust, CNL Lifestyle Properties, for Rapids Water Park in West Palm Beach, Florida. The unconventional loan collateral was bifurcated between real estate and personal property such as ride-related equipment with a separate borrower for each. We prepared the term sheet, drafted the loan documents, negotiated with borrower's counsel, and coordinated the closing. Rapids Water Park features 35 water slides, a quarter-mile-long "lazy river," a 25,000-square-foot wave pool, and multiple play areas for children.

Handled the sale of over 2,000 REOs, with aggregate purchase prices in the billions of dollars, through both the negotiation and closing of individual sales and the structuring and sale by auction of multiple properties. The largest was approximately $216 million, which was the sale of a major hotel...
Representation of diversified automotive company in over $3.8 billion of various financing matters including the securitization of retail and lease installment contracts, and negotiation of working capital lines of credit and conduit lending facilities.
Representation of real estate fund client in the private placement securities offering of a flagship private equity fund comprised of two separate real estate funds, one focused on debt investments and the other focused on direct residential and commercial investments. The funds' structures include ...