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June 04, 2018
Cadwalader represented the lender in an approximately $1 billion mortgage loan in connection with the acquisition by CorePoint Lodging Inc., a publicly-traded real estate investment trust (REIT), of a geographically diverse portfolio of 314 hotels that were previously owned by La Quinta Holdings Inc. The transaction was a component of Wyndham Worldwide Corporation’s $1.95 billion acquisition of the hotel franchising and hotel management business of La Quinta and the related spin-off of CorePoint, creating the only public U.S. lodging REIT strategically focused on midscale and upper-midscale select-service segments.
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