Represented a multinational social infrastructure privatization firm that is the nation's leader in public/private community development in connection with the first-, second-, and third-ever privatization of hotels on United States military installations. This three-phase representation that spanned over eight years included the acquisition, long-term ground lease, development, construction, renovation, demolition, and financing of a portfolio of approximately 14,000 hotel rooms on 41 United States military installations across the United States. The military installations included Aberdeen Proving Ground, Fort Belvoir, Fort Benning, Fort Bliss, Fort Bragg, BT Collins Army Reserve Center, Fort Buchanan, Fort Campbell, Carlisle Barracks, Fort Carson, Fort Drum, Dugway Proving Ground, Fort Gordon, Fort Hamilton, Fort Hood, Fort Huachuca, Hunter Army Airfield, Fort Hunter Liggett, Fort Jackson, Fort Knox, Fort Leavenworth, Fort Lee, Fort Leonard Wood, Joint Base Lewis-McChord, Fort McCoy, Fort Meade, Joint Base Myer-Henderson Hall, Parks Reserve Forces Training Area (Camp Parks), Fort Polk, Presidio of Monterey, Redstone Arsenal, Fort Riley, Fort Rucker, Joint Base San Antonio, Fort Shafter/Tripler Army Medical Center, Fort Sill, Fort Stewart, Fort Wainwright, U.S. Army Garrison West Point, White Sands Missile Range, and Yuma Proving Ground. The initial development budget for this approximately 14,000-hotel-room project exceeded $1B. The project featured a complex financing arrangement, which included a $715M senior loan from Bank of America, a $25M junior loan from Behringer Harvard, and a $21.5M subordinate loan from Lend Lease (US) Capital Inc. The first phase of this project was awarded the 2009 "North American Real Estate Deal of the Year" by Project Finance Magazine. Begun in 2009, the Privatization of Army Lodging (PAL) continues to serve as an example of effective social infrastructure privatization.