Financing Ground-Up Hotel and Hospitality Development Deals: Legal and Financial Issues
Completion Guaranties, GMP Construction Contracts, Ground Leases, Post-Completion Recourse, Management and Branding
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will discuss legal and financial issues involved in financing ground-up hotel development deals. The panel will review completion guaranties, GMP construction contracts, the impact of ground leases, reserves, post-completion recourse, management, and branding.
Outline
- Completion and other guaranties
- Guaranteed maximum price construction contracts
- Financing challenges
- Impact of ground leases
- Reserves
- Post-completion recourse
- Management
- Branding
- Qualified Opportunity Zone related party transactions
Benefits
The panel will review these and other key issues:
- What are the critical differences between post-completion recourse and completion guaranties? What financial risks do these guaranties present?
- What are the current market conditions for ground lease financing for hotel development?
- What are the complexities presented by ground leases?
- What role do hotel management and branding play in the ability to finance the hotel development deal?
- How do qualified opportunity zone investors impact the capital stack and structure strategies?
Faculty
Jonathan Falik
Founder and CEO
JF Capital Advisors
Mr. Falik leads the firm's hospitality business, which includes equity and debt placement, asset acquisitions and... | Read More
Mr. Falik leads the firm's hospitality business, which includes equity and debt placement, asset acquisitions and dispositions, portfolio transactions, JV structuring, asset management, management company and brand evaluation, and strategic and capital markets advisory services. Previously, he was a Senior Managing Director and the Head of Hospitality Capital Markets at BGC Real Estate Capital Markets. Simultaneously, he was the Head of Hotel Investment Sales for Newmark Grubb Knight Frank. Prior to that, he was a Managing Director and Head of the Lodging and Leisure Investment Banking group at Cantor Fitzgerald & Co. Prior to joining Cantor Fitzgerald, he was the founder and CEO of JF Capital Advisors, a lodging advisory and principal investment firm.
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Tara K. Gorman
Partner
Loeb & Loeb
Ms. Gorman focuses her practice on hospitality law advising clients domestically and internationally on a broad... | Read More
Ms. Gorman focuses her practice on hospitality law advising clients domestically and internationally on a broad spectrum of matters including hotel acquisitions, financings, operations and development. She also handles a variety of management, licensing and branding agreements for hotels, restaurants, water parks and casinos.
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Guy Maisnik
Partner
Jeffer Mangels Butler & Mitchell
Guy Maisnik has over three decades of commercial real estate transactions with a strong expertise in hotels and... | Read More
Guy Maisnik has over three decades of commercial real estate transactions with a strong expertise in hotels and finance. A partner and Vice Chair of the JMBM Global Hospitality Group, Guy is a senior member of the JMBM Chinese Investment Group and a partner in the JMBM Real Estate Department. He advises clients on hospitality transactions, with both a practical business and legal focus, representing buyers, sellers, lenders, opportunity funds, special servicers, REITs and developers in hotel transactions, joint ventures, hotel management agreements and franchise agreements, buying, selling and ground leasing of hotels, complex mixed-used development and fractional and timeshare structuring.
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