Hotel Financing Structures and Options in the Hospitality Industry Upswing

Leveraging CMBS Capital Market Financing, Preferred Equity, Tax Credit Funds and EB-5 Financing

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, September 23, 2014

Recorded event now available

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Program Materials

This CLE webinar will brief financing counsel on the various financing tools, sources of money, and legal challenges for hotel owners and operators in the current economic environment. The panel will focus on CMBS financing, tax credit funds, EB-5 financing and preferred equity investments. 

Description

The hotel industry is in an upswing as this cyclical industry continues to heat up and is one of the most active real estate segments in today's economy. How can counsel pave the way for hotel clients to identify and negotiate financing deals?

While financing from traditional lenders is relatively scarce, savvy industry insiders are finding additional sources of financing and are driving a new era of innovation in real estate finance. Preferred equity investments, tax credit funds and EB-5 financing are common.

Commercial mortgaged-back-securities loans, historically an important hotel financing source, came back into play in recent years. New CMBS loans are more complex and difficult to navigate than before, but can be a critical source of financing for certain deals.

Listen as our authoritative panel of real estate finance attorneys guides you through the various financing tools and sources of money available for hotel financing, including CMBS financing, tax credit funds, EB-5 financing and preferred equity investments. The panel will also address legal issues that can present financing challenges in this post-recession environment. 

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Outline

  1. Pre-recession/recession
    1. Easy money
    2. Cleaning out the distressed properties and loans
  2. Current available sources of financing
    1. Private investor dollars (preferred equity)
    2. Tax credit funds (new market/historic tax credits)
    3. EB-5 financing
    4. CMBS capital market financing
  3. CMBS type loan structures and requirements
  4. Collateralizing the management and franchise agreements
    1. Comfort letters
    2. Subordinations
    3. Collateral assignments
  5. Bankruptcy remote organizational structures and covenants

Benefits

The panel will review these and other key questions:

  • What are current trends in CMBS loan structures and requirements?
  • What are the primary benefits—and risks—of preferred equity investments as a source of financing?
  • What projects are particularly suited to EB-5 financing? 

Faculty

Bradley Kaplan
Bradley Kaplan

Partner
Ulmer & Berne

Mr. Kaplan assists owners, operators and receivers of hotel, office and industrial properties with their real estate,...  |  Read More

Maisnik, Guy
Guy Maisnik

Partner
Jeffer Mangels Butler & Mitchell

Mr. Maisnik has nearly three decades of commercial real estate finance with a strong expertise in hotels. He is...  |  Read More

Falik, Jonathan
Jonathan Falik

Founder and CEO
JF Capital Advisors

Mr. Falik has over 20 years of experience in the real estate and lodging sector. He has worked on numerous M&A and...  |  Read More

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