Lowenstein Sandler LLP counseled Lendlease's Public Partnership business based in Nashville, in achieving the operational and financial closing of the latest phase of the Department of the Army's Privatization of Army Lodging (PAL) program, comprised of 14,000 hotel rooms on 41 military installations across the United States. Globally, Lendlease is an international infrastructure and property solutions provider and leader in public-private-partnership community development.
The transaction involved several long-term ground and support leases from the United States Army, a $715M construction loan facility from Bank of America, and hotel management and franchise agreements with InterContinental Hotels Group. When completed, a number of the hotels will be flagged as Holiday Inn Express, Candlewood Suites, or Staybridge Suites Hotels. Begun in 2009, the PAL Project continues to be an example of social infrastructure privatization that works.
The Lowenstein team was led by Edward J. (Ted) Hunter, who chairs the firm's Real Estate Practice Group. The firm's national real estate practice provides legal counsel on all aspects of the acquisition, disposition, development, finance, operation, and leasing of real property and in managing disputes that may arise in the course of such transactions. Lowenstein's real estate group also regularly counsels developers and other participants in public-private-partnership transactions. Lowenstein's clients include developers, investors and landlords; leading financial institutions, including investment advisers, private equity firms, and commercial and investment banks; Fortune 100 companies; national and regional retailers; and closely held businesses.
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