Acquisition and Restructuring of the Sovereign Hotel
Soho House Ltd.
Represented Soho House Ltd. in the acquisition of the equity interests in the ownership of the Sovereign Hotel in Miami Beach, modification of the existing construction loan, subdivision of the property, and the receipt of an additional $18 million loan from the Bank of Scotland. The deal closed mid-construction of the 15-story addition and extensive renovations to the project complicating the transaction with construction lien, title and financing issues. Subsequently represented the owner in a refinance with a CMBS lender for $55 million in permanent financing.
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