Hotels & Leisure

Hotel Debt Transactions

• Represented owners of luxury and business class hotels and resorts in connection with more than $12 billion of structured debt. Hotels and resorts include Barton Creek Spa & Resort, Grove Park Inn, Hotel del Coronado, Fairmont (Chicago, IL; Scottsdale, AZ), Four Seasons (Mexico City, Punta Mita and Washington, D.C.), Hilton (Hawaiian Village and San Francisco Union Square Hotel), Homestead Resort, Hyatt La Jolla, InterContinental (Chicago, IL; Miami, FL), JW Marriott Essex House, Loews Santa Monica, Marriott Lincolnshire, Parc 55 San Francisco, Ritz Carlton (Half Moon Bay and Laguna Niguel) and Westin St. Francis, Hotel Viking, Thompson Hotel Nashville, New Orleans Pontchartrain Hotel, Providence Biltmore Hotel and portfolio of nine Graduate hotels.

Other Hospitality Financings

• Represented private equity firm in $1.8 billion Commercial Mortgage-Backed Securities (CMBS)/mezz financing in connection with acquisition of ClubCorp Inc., owner of approximately 100 golf courses, 60 business clubs as well as the Barton Creek and Homestead Resorts. The mortgage financing was secured by mortgages on 61 of the company's golf courses as well as its two resorts and the mezzanine financing was secured by a pledge of equity in business clubs and golf courses.
• Represented ClubCorp as lead finance counsel in multiple bank lines of credit (Term Loan/Revolver) secured by golf courses and equity in business clubs located throughout the country.
• Served as bond counsel for more than $1 billion in bonds to finance improvements to McCormick Place Convention Center (South Hall) & Navy Pier.
• Served as bond counsel for construction financing and initial long term financing (127,420,000 of bonds) of McCormick Place Hyatt Hotel.
• Served as bond counsel for total renovation of Soldier Field (400,000,000 of bonds).
• Represented underwriters in two series of bond refinancings for Comiskey Park.

Business

• Represented publicly traded REIT in the origination and securitization of tax increment capital appreciation notes in the original principal amount of $135 million to finance a Rail/Truck Intermodal Facility as wells as several subsequent add-on tax exempt bond s in excess of $300 million.
• Served as bond counsel for US Treasury guaranteed bonds authorized by the Small Business Jobs Act of 2010 (12 USC 1413a), the proceeds of the bonds were to be used to make commercial real estate loans to seven large national certified development financial institutions. The bonds aggregated nearly $700 million – more than half of the volume guaranteed by the US Treasury throughout the history of this program.
• General counsel to recipient of over $400 million of New Markets Tax Credits, with primary responsibility for developing legal structure for and negotiating equity and debt transactions.
• Primary counsel for first major new markets tax credit leveraged loan fund in the nation.
• Represented Community Reinvestment Fund, Inc. in more than 20 series of asset-backed notes and bonds.
• Counsel to Issuer of Real Estate Mortgage Investment Conduits (REMIC)/Affordable Housing Notes and Asset-Backed Affordable Housing Notes aggregating $200 million.

Commercial Real Estate Finance

• Pier 39 – San Francisco. Represented borrower in $148 million term loan secured by ground lease with San Francisco Port Authority.
• AIPA Properties – Honolulu. Represented borrower in $165 million term loan secured by ground lease.

Public Finance

• Underwriter’s Counsel for approximately $700 million of Hospital Revenue Bonds in four separate offerings for a large mid-western health care organization.
• Credit Enhancement Counsel for multiple bond issues in Oregon, Colorado, Wyoming, Idaho and Utah, for Universities and power companies and more than $500 million of Hospital Revenue Bonds in Oregon and Washington.
• Bond Counsel to Educational Enhancement Funding Corporation for two separate series of Tobacco Settlement Revenue Bonds approximating $170 million.
• Bond Counsel to South Dakota Building Authority for approximately $250 million of various Revenue Bonds to finance various State and University Projects, including football stadium and recreational facilities.
• Bond Counsel to a State permanent revolving fund responsible for more than 10 separate revenue bond issues aggregating more than $500 million.