BALTIMORE, MD. – Womble Bond Dickinson advised American Hotel Income Properties REIT LP (“AHIP REIT”), a limited partnership formed to invest in hotel real estate properties across the United States, in its $50 million strategic investment by BentallGreenOak Real Estate Advisors LP and Highgate Capital Investments, LP through HCI-BGO Victoria JV LP, a joint venture limited partnership. The investment was made through the issuance of newly-created Series C preferred equity stock of AHIP REIT and warrants to acquire units of AHIP, on a private placement basis. In addition, AHIP amended its $225 million corporate credit facility with its lending syndicate.
The team of Womble Bond Dickinson lawyers advising AHIP REIT on this deal included Merrick Benn, Shari Bacsardi, Sylvester Kisluk, Brian Meltzer, Chris Bullock, and Reid Avett, as well as paralegal Valerie Guidry.
“We are pleased to once again have the opportunity to support AHIP REIT on this strategically important transaction demonstrating the strength of their platform while at the same time reinforcing their balance sheet,” Shari Bacsardi said.
AHIP's 78 premium branded, select-service hotels are located in secondary metropolitan markets that benefit from diverse and stable demand. AHIP hotels operate under brands affiliated with Marriott, Hilton, IHG and Choice Hotels through license agreements. More information is available at www.ahipreit.com.
Merrick Benn, Chair of Womble Bond Dickinson’s Capital Markets practice remarked: “We are proud of our colleagues – both within WBD and at Farris LLP – who tirelessly worked together and efficiently coordinated the seamless structuring and closing of this fast-paced, multi-disciplinary transaction across borders in the midst of a global pandemic.”
In addition to the Womble Bond Dickinson team, AHIP was also advised by Farris LLP. CIBC Capital Markets and Deutsche Bank Securities Inc. acted as financial advisors.