Criterion Real Estate Capital and Wells Fargo Provide Financing for Acquisition of Park Lane Hotel
Kaye Scholer represented Criterion Real Estate Capital LLC and Wells Fargo Bank, N.A. in originating mortgage and mezzanine financing to finance the acquisition of the Park Lane Hotel on Central Park South. The borrower was The Witkoff Group and its partners. In addition to structuring and negotiating the mortgage and mezzanine loans, we also advised Criterion and Wells Fargo on labor, employment and ERISA issues associated with the operation of the hotel. The deal closed on November 25, 2013.
The Kaye Scholer team included Partners Steve Gliatta, Louis Hait and John Geelan, Counsel Kathleen Wechter, Associates Keith Tagliavia, Eduard Cadmus and Chad Sandler, and Legal Assistant Vincent Balsamello.