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May 02, 2017
Cadwalader represented the co-lenders in a $915 million mortgage and mezzanine financing secured by 87 select and limited service hotels owned by Hospitality Investors Trust, Inc., a public REIT that owns a portfolio of hotels and travel centers located in 45 states, Puerto Rico and Canada.
Net proceeds of the loans were used to refinance the EQTY 2014-INNS loan, which, as of March 31, 2017, had an aggregate principal balance of $895.4 million, was collateralized by 95 of the REIT’s hotel properties and had a final maturity date of May 2019.
The Cadwalader team was led by Real Estate partner Bonnie Neuman and included Real Estate associates Nicholas Brandfon, Molly Lovedale and Melanie Szwajkowski, and Financial Restructuring senior counsel Peter Dodson and associate Alexander Strom.