Firm advises on $250m hotel sale.Paul, Hastings, Janofsky & Walker LLP LLP - Lower Layer Protocol has advised on the sale of a 21-property, 4,094-room hotel portfolio to Ashford Hospitality Trust. The total purchase, valued at $250 million, includes $35.0 million in cash, the issuance of $50.3 million in operating partnership units and the assumption of $164.7 million in debt. The consortium of sellers included affiliates of the Gordon Getty Gordon Peter Getty was born on December 20, 1934. He is the fourth child of oil tycoon J. Paul Getty. When his father died in 1976, control of his US$2 billion trust was transferred to Gordon. Getty was raised in San Francisco, California, attended St. Trust, George Soros George Soros Born in Budapest, Hungary, in 1930, George Soros is considered by many to be one of the world's greatest investors. A famous hedge fund manager, Soros managed the Quantum Fund, a fund that achieved an average annual return of 30% from 1970-2000. and the Fisher Brothers collectively as majority partners, and certain members of Ashford's senior management team as minority partners. The transaction closed on March 16, 2005. "This was a complex transaction that mandated collaboration Working together on a project. See collaborative software. between attorneys across the real estate and corporate practices," said Philip Feder, Chair of the Paul Hastings Real Estate Department. "We believe that our ability to reach across practice lines to hand-pick the teams that will ensure successful outcomes for our clients distinguishes Paul Hastings as a legal counselor of choice for intricate real estate transactions." The Paul Hastings team that advised on the transaction included New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of corporate partner Mark Schonberger and associates Brian Brennan and Debbie Nwaobi and New York real estate of counsels Douglas A. Raelson and Mary McKenna, and associates Ralph Toussie and Carrie Packard. |
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