Cadwalader Advises the Lender in Financing for CorePoint Lodging’s Acquisition of La Quinta’s Hotel Portfolio

Jun 04, 2018

Contact(s)

Ron Brandsdorfer
New York
+1 212 504 6712
ron.brandsdorfer@cwt.com

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.

The Cadwalader team was led by Finance partners Bonnie Neuman and Bill McInerney, and includes associates Faith Chung, Jamie Rothman, Melanie Szwajkowski and Susan Vuernick.

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