Firm Additionally Represents Strategic Hotels & Resorts in Closing of $115 Million Loan Secured by Ritz-Carlton Half Moon Bay

CHICAGO, Ill. (May 28, 2015) - Perkins Coie represented client Strategic Hotels & Resorts, Inc. (NYSE:BEE), a real estate investment trust (REIT) which owns and provides value enhancing asset management of high-end hotels and resorts in the United States and Europe, in a $750 million unsecured term loan and revolving credit facility with an accordion feature allowing for additional borrowing capacity up to $250 million. The new facility replaced a prior credit facility secured by an equity pledge in direct and indirect subsidiaries that own, lease or operate five luxury and upper-upscale full service hotels included the REIT’s portfolio. The unsecured facility is supported by a pool of unencumbered assets that will initially consist of nine of the company's hotels: the Fairmont Chicago, Fairmont Scottsdale Princess, Four Seasons Austin, Four Seasons Jackson Hole, Four Seasons Scottsdale Resort at Troon North, Four Seasons Silicon Valley, Marriott Lincolnshire, Ritz-Carlton Laguna Niguel and Westin St. Francis.

In addition, Perkins Coie represented Strategic Hotels & Resorts in the closing of a $115 million limited recourse loan secured by the Ritz-Carlton Half Moon Bay, the only San Francisco Bay area golf resort with a coastal setting.

The Perkins Coie teams for these two transactions were led by Chicago partner Bruce Bonjour, and included Chicago partners Kurt Neumann and Edward Wicks, Los Angeles Partner David Larsen, Chicago Senior Counsel Melissa Oka and Chicago associate Jaime Willis.

Perkins Coie is a leading international law firm that is known for providing high-value, strategic solutions and extraordinary client service on matters vital to our clients’ success. With more than 1,200 lawyers in offices across the United States and Asia, we provide a full array of corporate, commercial litigation, intellectual property, and regulatory legal advice to a broad range of clients, including many of the world’s most innovative companies and industry leaders as well as public and not-for-profit organizations.

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