Overview
International law firm McDermott Will & Emery McDermott represented an affiliate of Driftwood Hospitality in four separate transactions in April 2024:
- As mezzanine lender in connection with a mezzanine loan in the principal amount of $35,800,000, in conjunction with a mortgage loan in the principal amount of $92,000,000 for the Miami 3 portfolio, which includes three hotels throughout Miami, FL.
- As mezzanine lender in connection with a mezzanine loan in the principal amount of $30,000,000, in conjunction with a mortgage loan in the principal amount of $270,000,000 for the Dallas Sheraton, the largest hotel in Texas.
- As borrower in connection with a mortgage loan in the principal amount of $33,000,000 for the Sheraton Park City hotel in Park City, Utah.
- As borrower in connection with a mortgage loan in the principal amount of $29,000,000 for the Marriott Research Triangle Park hotel in Durham, North Carolina.
The McDermott team was led by Scott Weinberg with assistance from Jeff Ruskin, Leenor Gold, Ed Pisacreta, Alison Mackenzie, Megan Vallerie, Danny Min, Robert Mower and Hayley Yandoli.
About McDermott
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
