Am Law 100 firm Polsinelli announced today it closed two major New York hotel transactions on behalf of real estate investment trust FelCor Lodging Trust Incorporated (NYSE: FCH).
Polsinelli represented FelCor in its sale of the 168-room Royalton New York hotel to a joint venture between Rockpoint Group and Highgate for gross proceeds of $55 million. Polsinelli also represented FelCor in its sale of the 117-room Morgans New York hotel for gross proceeds of $37 million. These transactions involved major contributions by the firm's Dallas, Kansas City and St. Louis offices.
"This was typical for us, in New York and elsewhere," said Dan Flanigan, Chair of Polsinelli's Real Estate & Financial Services Department and Managing Partner of its New York office, "in that we were able once again to take advantage of our integrated national real estate group to achieve an expert, timely and cost-efficient execution."
Polsinelli's national practice advising real estate investment trusts (REIT) comprises a multidisciplinary team of attorneys with significant experience in capital markets transactions, real estate transactional work, securities and corporate governance compliance counseling, and tax planning and structuring. The REIT group reflects the strategic enhancement of the firm's strengths in two of its key focus areas, real estate and financial services.
About Polsinellireal challenges. real answers.(SM)
Polsinelli is an Am Law 100 firm with approximately 800 attorneys in 20 offices, serving corporations, institutions, and entrepreneurs nationally. Ranked No. 17* for Client Service Excellence among 650 U.S. law firms, Polsinelli has risen more than 50 spots over the past five years in the Am Law 100 annual law firm ranking. Polsinelli attorneys provide practical legal counsel infused with business insight, and focus on health care, financial services, real estate, intellectual property, mid-market corporate, labor and employment, and business litigation. Polsinelli attorneys have depth of experience in 100 service areas and 70 industries. The firm can be found online at www.polsinelli.com.