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Over the past five years, PACE financing has gained wider acceptance, and moved from a novel technique to a mainstream practical solution for financing. For more background on what PACE financing is, why it can be attractive, why it is becoming more popular and how JMBM s attorneys can help, see PACE Financing – Now an accepted tool for hotel lenders and borrowers.
Our lawyers are at the leading edge of this important new trend. And we think that sharing some of our client s successes with PACE financing may help others evaluate this tool for their own needs. So this is one in a series of successful PACE financing closings.
Cadwalader, Wickersham & Taft LLP
LIBOR has been a key interest rate benchmark for many decades, used as the principal reference rate to several hundred trillions of dollars in derivatives, bonds, loans and securitizations.
Jenner & Block
Courts in three different jurisdictions recently handed down decisions against commercial tenants in disputes with their landlords over rent obligations during the COVID-19 pandemic.
Shearman & Sterling LLP
On Wednesday, March 31, the Biden administration released its American Jobs Plan (AJP), a detailed blueprint to spend more than $2 trillion over eight years for a wide range of.
Duane Morris LLP
President Biden s promised infrastructure legislation, sometimes known by the slogan the Build Back Better Plan is still under wraps, but some information is beginning to leak out.
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About five years ago, my partner David Sudeck, a senior member of JMBM s Global Hospitality Group®, spoke at a hotel industry conference about the attractive features of PACE financing as an innovative financing technique. David has extensive experience with virtually all kinds of real estate financing from senior debt to joint ventures. At the time, he had just finished working on a hotel financing that included components of a senior construction loan from a private lender, Mello Roos community facilities district financing, EB-5 financing, and PACE Financing. Few people in the audience at the conference had heard about PACE financing, and there were a lot of questions about its characteristics.
David A. Sudeck
David Sudeck is a member of JMBM s Global Hospitality Group® - a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. David primarily focuses on the formation and registration of condominiums, timeshares, private residence clubs, and fractional interest regimes, the negotiation of hotel, spa, golf, and restaurant management agreements, and the development, acquisition, sale and leasing of hotels, golf courses, and restaurants.
The Global Hospitality Group® just hosted a very timely webinar discussing the state of the hotel and CMBS industries. Our program featured senior representatives from Argentic, Greystone, and Situs - three of the largest CMBS special servicers with the most distressed hotel debt - as well as leading data and analytics firm Trepp, HREC s runway capital program, Manhattan Hospitality for hotel industry perspectives, and our own hospitality workouts and receivership expert to break down the current state of the distressed hotels market and CMBS special servicing.