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$250 Million, 38-Acre Mixed-Use Ground Lease Project in Charleston, South Carolina

Real Estate Developer
Representation of prominent developer in creation and acquisition of 99-year ground lease for 38 acres in Charleston, South Carolina, to develop a $250 million mixed-use project, including a Hilton hotel, a 450-slip marina, a retail center, vacation resort condominiums, and cottages. At inception, the ground lease was not financeable. However, we made the project feasible by restructuring the ground lease to permit different equity investors and lenders for each separate use in the project.
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John C. Sumberg

John C. Sumberg

Chairman
John M. Kuhn

John M. Kuhn

Partner
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Experience
Representation of Oleta Partners, LLC, a joint venture comprised of affiliates of the LeFrak Organization and Turnberry Associates, in the successful negotiation of the long-term ground lease and complicated leasehold financing for a 185-acre brownfields redevelopment site in the City of North Miami...
Experience

Representation of debtor in possession in the chapter 11 case of Cabi Downtown LLC, the owner of an 849-unit condominium project owing over $250 million to a bank consortium, defaulting unit purchasers, trade creditors, and its general contractor. The case was the first large condominium filing i...

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