April 15, 2020
Clifford Chance advises Carey Watermark Investors 2 Incorporated on merger to form US$4.6 billion REIT
New York: Leading international law firm Clifford Chance has advised Carey Watermark Investors 2 Incorporated on its all-stock merger and management internalization transaction with Carey Watermark Investors Incorporated to create a US$4.6 billion self-managed, non-traded REIT, Watermark Lodging Trust.
Partner Kathleen Werner led on the matter, supported by a team including associates Christine Kim and Jacob Shapiro and law clerk Cedric Karaoglan. Partners Richard Catalano and Michael Seaton and associate Lauren Clarke advised on tax, with partner Howard Adler and associate Atul Jain advising on executive compensation.
Commenting on the matter Werner said, "We were pleased to advise a long-time client on an important transaction that fulfilled a strategic objective for the client. This transaction in the non-traded and hospitality REIT sectors is another example of the diversity of Clifford Chance's market-leading REIT practice."