Hughes Hubbard Helps Loews Hotels Form JV and Obtain Loan

Hughes Hubbard & Reed represented Loews Hotels & Resorts in the formation of a joint venture between affiliates of Universal Parks & Resorts and Loews Hotels & Resorts and in the subsequent negotiation of a syndicated construction loan for the development of a new hotel.  

The new hotel will be located on the Universal Orlando campus and will be called the “Cabana Bay Beach Resort.”  It is anticipated to have 900 rooms and 900 suites and will be the fourth hotel on the campus, adjacent to the Universal Orlando theme parks.

The joint venture transaction closed in September of 2012; the initial loan closed in mid-December 2012; the syndication closing took place the following week. The Hughes Hubbard team included William A. Weber, Gisela M. Munoz, Jose V. Bermudez and Nyana Miller, who were assisted by Ross Lipman.