4 Firms Guide Up To $450M In Financing For Hospitality REIT

Law360 (July 24, 2020, 10:06 PM EDT) -- Hospitality-focused real estate investment trust Watermark said Friday it's completed a financing deal for commitments of up to $450 million from a joint venture of affiliates and funds backed by Ascendant and Oaktree in a transaction led by four law firms.

Watermark Lodging Trust Inc. said in a statement that its deal with Ascendant Capital Partners and Oaktree Capital Management LP provides it $200 million, a commitment of up to $250 million over the next 18 months and warrants for the investors to buy equity stakes in it of up to 6.75%.

"This transaction provides us with additional operational and financial...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!