Representation of an entity comprised of Starwood Capital, the LeFrak Organization, and Invesco Ltd. in the purchase and substantial $340 million renovation of one of South Beach's largest oceanfront luxury resort properties, the 1 Hotel South Beach. Our team handled contract negotiations and closing, supervised review and analysis of land use issues and secured numerous key approvals from the City of Miami Beach including approvals from the City Commission, the Historic Preservation Board, the Planning Board and the Board of Adjustment. We resolved numerous litigation matters, including those pending with the condominium association, allowing the project to move forward with substantial renovations. In 2015, our team assisted in the opening of the hotel and in securing a $250 million loan from Deutsche Bank, refinancing the Miami Beach property. The $1 billion property, which boasts nearly two million square feet of space, has reopened as a hotel and series of oceanfront condominiums and includes a rooftop pool, a spa and fitness center and private beach amenities.
Representation of developer of 45-story luxury oceanfront condominium in City of Sunny Isles Beach, Florida, against the neighboring Town of Golden Beach's appeal objecting to the development approval by the City of Sunny Isles Beach.
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...
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, e...