Mixed-use hotel projects are complex and involve varied interests of the many different involved parties. Project challenges increase when the hotel is located in a foreign country.
In the South Florida Business Journal, Gunster attorney Maria Acevedo-Belt identifies the factors lenders should consider when taking control of a mixed-use hotel project in Latin America.
This includes having a solid understanding of rights, obligations and potential liabilities under the loan and project documentation. Lenders should know the market they’re entering, Acevedo says in the article, especially as it relates to the feasibility of the project. Lenders should meet and communicate directly with project stakeholders, she adds. In addition, Acevedo advises creating work practices to help prevent unintended violations of the Foreign Corrupt Practices Act.
Read the entire article:
- 5 factors for lenders to consider when taking over mixed-use Latin America hotel projects (South Florida Business Journal, 5/17/16)