Capabilities

Innkeepers Debtor-in-Possession Facility

Real estate investment and asset management company

Our attorneys represented the lead lender and administrative agent in the origination of a US$53 million senior secured super-priority debtor-in-possession credit facility provided to 50 subsidiaries of Innkeepers USA Trust in connection with the Chapter 11 reorganization of the company and its various subsidiaries. The facility was secured by super-priority liens on 47 hotels located throughout the United States and was structured in multiple tranches. The facility was tailored to provide a source of financing for property improvement plans at certain of the hotels securing the facility, which plans were required by the related hotel franchisor.

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