Husch Blackwell recently issued the following announcement.
Date:
December 17, 2020
As business and leisure travel has diminished during the pandemic, the hospitality sector has been devastated, with an increasing number of hotels facing foreclosure by their lenders. In an attempt to mitigate their losses, many owners are considering repositioning their hotels into another property type, such as senior living communities, affordable housing or rental apartments.
Our panel will discuss evaluating a property’s feasibility for conversion—from examining the local market conditions (e.g., zoning restrictions, market demand, competitive landscape), to the condition of the physical building and tenant spaces, to an analysis of capital improvement costs and repurposing pro forma—in order to help owners make an informed decision on the path forward.
Presenters:
- Paul Brussow, Executive Vice President, North America, Rider Levett Bucknall
- Colby Durnin, Chief Executive Officer, Principal, CREDE
- Stan Cairns, Director, NELSON Worldwide
- Raymond A. DiPrinzio, Executive Director and Co-Head of Infrastructure Finance, Sumitomo Mitsui Banking Corporation