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Loews Hotels Secures Mortgage Loan With SunTrust Bank
- Client News
- November 18, 2019
Practices
Paul, Weiss represented Loews Hotels in connection with a $103.6 million mortgage loan with SunTrust Bank secured by Universal's Aventura Hotel in Orlando. The loan refinanced a $102 million construction loan for Universal's Aventura Hotel from The Bank of Nova Scotia.
Aventura Hotel is owned by a 50/50 joint venture between Loews Hotels and NBCUniversal. Joint ventures between Loews Hotels and NBCUniversal currently own eight hotels in Orlando that are associated with the Universal theme parks.
The Paul, Weiss team included real estate partner Peter Fisch and counsel Karla Booth; corporate partner Manuel Frey; and tax partner Lindsay Parks.