$100 Million Development of Condo-Hotel in South Carolina

Coen Capital LLC

Representation of Coen Capital in development of The Landing, a $100 million 150-unit luxury condo-hotel project in Charleston, South Carolina. This condo-hotel, the first in South Carolina to be developed on a ground lease, created challenges with the property owner, the lender, equity investors, and unit owners. Among other issues, the property owner required a mechanism for the steady payment of ground rents even if a unit owner failed to pay rent, and unit owners and the lender required assurances that the ground lease would not terminate for non-payment if any unit owner failed to pay rent.

John C. Sumberg
Founder, Chairman
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...
Analyzed cleanup strategies in order to resolve soil and contamination issues on homebuilder client’s property in Broward County, Florida. Negotiation with the Broward County Environmental Protection Division to obtain a restrictive covenant to allow for residential development on the property.
Representation of real estate investment company in connection with the environmental investigation and remediation plan for a five acre residential community and golf course. Successfully determined scope of assessment and provided recommendations for final remediation plan while representing clien...