Lowndes, Drosdick, Doster, Kantor & Reed, P.A. Represents Hilton Orlando Convention Center in its $375 Million CMBS Financing

We congratulate our long-term client, Rida Development Corporation and Rida’s strategic partner, Ares Management, L.P., in their $375 million refinancing of the Hilton Orlando Convention Center. The firm assisted its clients in negotiating a $345 million CMBS financing and the $30 million of mezzanine financing with UBS and Wells Fargo as co-lenders on both loans. The deal closed on July 7, 2014. Key lawyers involved in this matter were Peter Lopez, Scott Thompson, Mark Heimendinger, Patti Cook and David Peterson. We celebrate our client Rida Development Corporation!

The Hilton Orlando Convention Center is an AAA Four Diamond Award® resort located 15 minutes from the Orlando International Airport. The 1400-room upscale resort features spectacular amenities, a contemporary design, and close proximity to Orlando’s main attractions including the Orange County Convention Center. http://www.thehiltonorlando.com/our-hotel

RIDA Development Corporation is a full service real estate company headquartered in Houston, TX with regional offices in Orlando, FL and Warsaw, Poland. Rida has created and invested in innovative and economically successful office, residential, industrial, hospitality and retail developments for more than 40 years. http://www.ridadev.com

Ares Management, L.P. is a publicly traded, leading global alternative asset manager that invests in the tradable credit, direct lending, real estate and private equity markets. With approximately $79 billion of assets under management, its common units are traded on the New York Stock Exchange. http://www.aresmgmt.com/