October 11, 2017
Partner Aaron Rosenfeld
was quoted in the Law360
article “1 Lawyer Steers Pair Of Major Hotel Purchases.” Aaron helped client Xenia Hotels & Resorts Inc. purchase Hyatt Regency Scottsdale Resort & Spa for $305 million and acquire the Ritz-Carlton Pentagon City for $105 million. Closing these two deals was a huge milestone for Kelley Drye’s Washington, D.C. hospitality practice. "What we've seen lately is a huge uptick in the hospitality practice from various clients. Not just Xenia. It kind of falls in with the rest of the real estate practice," he said. "One of the things that people don't really know about Kelley Drye is our depth of experience. These deals were the culmination of years of trying to obtain deal work."
Xenia started working with Kelley Drye after the firm hired partner Michael Kosmas
, in an effort to create an experienced hospitality group in the D.C. area. "Xenia quickly thereafter hired us, and gave us some hotel management work over time. These were the first major deals they closed after determining we were the right firm," Aaron said. "Our team at Kelley Drye got the deals done seamlessly."
Aaron took the lead for Xenia’s two most recent deals, the Hyatt Regency Scottsdale Resort & Spa and the Ritz-Carlton Pentagon City. "We get deals done quickly and efficiently. We staff it very leanly. Where big firms might have 10 lawyers on a deal, we'll staff it with three," he said. "We've always had a strong [D.C.] presence in real estate."
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