Assignment Overview
RobertDouglas advised DeBartolo Development in its recently-completed acquisition and financing of the leasehold interest in the Aqua Waikiki Pearl hotel in Hawaii. The financing was completed with a domestic debt fund and while many lenders express interest in the deal given the strong sponsorship and healthy cash flow, the unique challenges of financing a relatively short-term leasehold interest narrowed the universe of lenders considerably and required an extra level of legal and financial structuring.
Project Overview
The 132-key Aqua Waikiki Pearl completed a full renovation in 2009 and features over-sized guestrooms, most with a large lanai, 27 suites, and over 5,300 square feet of leased retail space.
Deal Highlights
| Client: Capital Sources: Financing Proceeds: Key Count: | DeBartolo Development Domestic debt fund Confidential 132 |
