Servicing of $6 Billion in Hotel Loans

Special Servicer
Oversaw the servicing of over $6 billion worth of hotel loans involving sales and loan assumptions, restructurings, mergers, deeds-in-lieu of foreclosure, forbearances and other workouts, changes in franchises/ flags, operating/ master lease issues, private equity takeovers, changes in management, extensive PIP construction, equipment leases, mezzanine loans and preferred equity participations. The transactions involved national players such as Ashford Hospitality Trust, CNL Hotels, Innkeepers REIT, Equity Inns REIT, Africa Israel and Whitehall Funding. The large multi-state hotel portfolio transactions and restructurings included the Red Roof Inn portfolio, Morgan Stanley Real Estate Funds (MSREF) 3-pack portfolio, Innkeepers portfolio and the Trinity portfolio.
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Experience
Representation of Cambridge Landmark in the $31 million acquisition, $14.2 million sale, leaseback, and $12 million leasehold financing of the Sheraton Orlando North hotel in Orlando, Florida.
Experience
Representation of Adler Kawa Real Estate Advisors in a $100 million sale leaseback transaction involving eight properties in three states, including negotiation of the ground leasehold financing for the transaction through a CMBS loan.
Experience
Representation of a major homebuilder in the out-of-court workout of $200 million of indebtedness to its lender.
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