Gehr Hospitality’s Acquisition of the Hyatt Place

Proskauer represented Gehr Hospitality in the transaction.

Gehr Hospitality partnered with Los Angeles based investment advisor Oakland Advisors, LLC in the transaction.

The acquisition was partially financed with a mortgage loan obtained from Wells Fargo Bank, and The Plascencia Group represented the seller.

Ms. Thuong Luong and Ms. Molly Caccamo of Gehr Hospitality led the transaction on behalf of the Company.

The 129-room Hyatt Place, located in King of Prussia, PA, was fully renovated in 2018. The Hotel is situated at the heart of King of Prussia’s affluent corporate office district, anchored by numerous Fortune 500 companies.

Gehr Hospitality, a division of The Gehr Group, is a hospitality-focused investment firm based in Los Angeles, California. Gehr Hospitality and its affiliates own a wide range of hotel, nightlife, residential, and commercial real estate assets throughout the United States.

Over the last five decades, The Gehr Group has established a successful track record, investing in and operating over $1 billion of hospitality, multifamily, office, retail, and industrial real estate properties, and creating substantial value through practical sourcing and hands-on asset management.

This acquisition is part of Gehr Hospitality’s continuing growth strategy.

The Proskauer team included co-head of the Real Estate Finance Group David Weinberger (Picture), partner Douglas Frank and co-head of the Private Equity Real Estate practice Jeffrey A. Horwitz.

Involved fees earner: Douglas Frank – Proskauer Rose LLP; Jeffrey Horwitz – Proskauer Rose LLP; David Weinberger – Proskauer Rose LLP;

Law Firms: Proskauer Rose LLP;

Clients: Gehr Hospitality;

Author: Ambrogio Visconti