Press Release

Morgan Lewis Represents Kyo-ya Hotels & Resorts in $1.875 Billion Loan Financing

Thursday, July 17, 2014

NEW YORK, July 17, 2014: A team of Morgan Lewis lawyers advised Kyo-ya Hotels & Resorts, LP as the Hawaii based resorts owner’s real estate finance counsel in a $1.875 billion debt financing—believed to be among the largest loan facilities ever extended in Hawaii.

Originated by German American Capital Corporation, a U.S. subsidiary of Deutsche Bank Americas Holding Corp., the financing consists of a senior mortgage loan facility and two mezzanine loan facilities. The mortgage loan is secured by a portfolio of resort hotel properties in Hawaii and California, including the Moana Surfrider, A Westin Resort & Spa, the Sheraton Waikiki, The Royal Hawaiian, A Luxury Collection Resort, the Sheraton Maui Resort & Spa and the Palace Hotel in San Francisco. The origination loans closed on June 4 and the mortgage loan was subsequently securitized and Morgan Lewis represented the company in connection with the securitization as well. 

The Morgan Lewis team was led by Business and Finance partner Richard Petretti with Business and Finance associate Matthew Schernecke, and supported by Business and Finance partner Robert Dickey; Real Estate of counsel Kathleen Martin; and Business and Finance associates Jonathan Frodella, Tyler Probst, and David Tseng.