Akin Gump Advises Waramaug Hospitality in Sharia-Compliant Hotel Investment Deal
(Dallas) – Akin Gump advised affiliates of Waramaug Hospitality in a joint investment with Interstate Hotels & Resorts in a collection of ten Marriott-branded extended-stay hotels. The deal, done in partnership with Gatehouse Capital, was structured to comply with Sharia law.
The hotel properties, consisting of more than 1100 rooms, are located in strategic submarkets of Minneapolis, Milwaukee and Detroit under the SpringHill Suites and TownPlace Suites brands. Waramaug, along with Interstate and Gatehouse, plans to begin a renovation of the portfolio, including a transformation of the public spaces, guestrooms and building exteriors.
The Akin Gump team representing Waramaug was led by real estate partner Carl Lee. It included real estate partner John Bain, corporate counsel Matthew Bivona and real estate staff attorney Richard Frank.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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