CHICAGO, Ill. (November 3, 2015) - In 2015 Perkins Coie’s nationally ranked Hotels & Leisure industry group handled three of the top five hotel sales in the Chicago area as reported in a Real Estate Bisnow article.

• Labeled the Number 1 Sale in 2015 in Chicago valued at $156 million, in February, Perkins Coie represented DRW Holdings LLC in the sale of the hotel portion of a mixed-use building to Loews Corporation and refinancing the remaining portion of the building.
• In the second largest hotel sale in Chicago valued at $112 million, Perkins Coie represented a joint venture of Geller Investment Co. and Wanxiang America Real Estate Group in their June 2015 purchase of the Waldorf-Astoria Hotel in Chicago from Equity Group Investments. At a price per room of $595,000, this sale is to date the highest price per room for a hotel in Chicago.
• In a March 2015 deal valued at $27 million, Perkins Coie represented an entity affiliated with GF Management in the acquisition and financing of the Westin Chicago Northwest.

“From the intimate boutique to world-recognized luxury, Chicago’s hotels are a part of this great city’s landscape,” said Daniel Marre, co-chair of Perkins Coie’s Hotel & Leisure practice. “Perkins Coie Hotel & Leisure attorneys handle virtually every aspect of hotel ownership and operations, and we appreciate the opportunity to provide exceptional counsel and support to our many clients in this active industry.”

Perkins Coie’s Hotels & Leisure industry group helps clients maximize the value and marketability of their hotels. We have assisted such leading clients as Rosewood Hotels & Resorts, Strategic Hotels & Resorts, ClubCorp, John Q. Hammons Hotels Management and CWCapital Asset Management. Perkins Coie’s Hotels & Leisure industry group has assisted clients with: acquiring, developing and rebranding properties; negotiating management and franchise agreements; financing, restructuring and workouts; and bankruptcy and hotel-related litigation. Our attorneys understand how to work with owners, lenders, and management and franchise companies to get deals done while addressing all parties’ concerns in a timely, cost-effective fashion. We have advised clients on individual property and portfolio transactions involving hundreds of hotels and major brands across North America, the Caribbean, Europe and Australia, with an aggregate value in the tens of billions of dollars.

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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