Merits Of Properly Structured Hotel-Condo Offerings
October 17, 2013, 4:01 PM EDT
Law360, New York (October 17, 2013, 4:01 PM EDT) -- In a case involving the offering of 450 condominium hotel units and a rental program at the Hard Rock Hotel in San Diego, the Ninth Circuit Court of Appeals found in favor of the sponsor and upheld the real estate purchase and sale agreements as just that, a real estate contract and not a security or investment contract subject to the Securities Act of 1933, as amended.
The case was being carefully watched not so much because it presented novel issues, but because the U.S. Securities...
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