M. Jay Yurow

Experience

Sales / Acquisitions

Headed a team of lawyers in a highly publicized multibillion dollar sale of 100 hotel properties, 87 of which were transferred simultaneously. To facilitate the transfers, the loans on approximately 30 properties were defeased, and 24 other properties were sold “subject to” securitized debt.

Ongoing representation of a national apartment developer in its negotiations to acquire sites for re-development in Baltimore, Chicago and the Washington Metropolitan area.

Represented the owners of regional shopping centers, office buildings, and industrial and warehouse properties in recent sales transactions.

Finance

Assisted Marriott International, Inc. and its lending affiliate, Marriott International Capital Corporation, in creating and implementing a national finance program intended to provide financing for the construction of Marriott-branded properties. During the past twenty-five years, Jay has worked with Marriott on secured financing transactions throughout the United States.

Ongoing representation of a Washington D.C. based EB-5 lender.  Recent transactions include financing the construction of the 182-room Cambria Suites and the 150-unit apartment property in the historic CityMarket Marketplace, as well the 278-room InterContinental hotel and the Fish Market at the Southwest Wharf redevelopment in Washington.  When complete, both projects will be integrated mixed-use projects combining retail, hotel, office and residential spaces.

Restructuring

Represented The Ritz-Carlton Hotel Company and Marriott interests in the restructuring of Reynolds Plantation, a resort and housing community east of Atlanta.  The resort includes a 251-room Ritz-Carlton hotel and spa, six golf courses, tennis club, four marinas, restaurants, as well as 2,000 developed housing lots and more than 5,000 acres of undeveloped property.

• Worked with the consortium of secured creditors to obtain control of the resort and then re-sell it to MetLife, Inc.
• Assisted Ritz-Carlton in its efforts to ensure uninterrupted operations of the hotel by establishing a series of easement and access agreements so that hotel guests would have continuing access to all of the amenities within the resort community.
• Assisted Ritz-Carlton in negotiations to modify and extend the hotel management agreement.

Assisted the United Kingdom-appointed liquidators with the wind-up and sale of an entity that owned 27 apartment properties in New York City. The properties secured the repayment of senior and mezzanine loans in excess of $200 million.

News

Speaking Engagements