JMBM's Hotel Lawyers help Chinese real estate developer buy 802-room Sheraton Gateway LAX for $96 million.
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By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
26 December 2013
The hotel lawyers of JMBM's Global Hospitality Group® and Chinese Investment Group™ assisted Hazens Investment, LLC, in the company's purchase of the 15-story, 802-room Sheraton Gateway LAX Hotel, located close to Los Angeles International Airport.
Hazens Investment is a subsidiary of Shenzhen Hazens Real Estate Group Co. Ltd., one of the top 100 largest construction and development companies in China, based in Shenzhen, China. Hazens Investment and the seller, an affiliate of Long Wharf Real Estate Partners, closed the deal on November 19, 2013
"With a great deal of experience in representing Chinese investors over the years, we have formed a special practice group to assist China-based clients in successfully closing transactions in the U.S.," said Jim Butler, Chairman of JMBM's Chinese Investment Group™ and Global Hospitality Group®.
"The acquisition of the Sheraton Gateway marks Shenzhen's first U.S. based acquisition and there will be more," explained Eudeen Y. Chang, a member of JMBM's Chinese Investment Group®.
Greg Sun, Vice President of Hazens Investment, stated: "When we engaged U.S. counsel for the transaction, we not only sought out a law firm expert in the hospitality industry, which JMBM is known for, but also specifically a Mandarin speaking attorney like Chang, who could not only communicate in Mandarin directly with Shenzhen's key personnel during the negotiations, but also understands the cultural differences of doing business in China and the U.S. and is able to bridge that gap."
JMBM's Chinese Investment Group® is a dedicated team of hotel, real estate and corporate lawyers that advise Chinese investors in making prudent and economically successful investments in hotels and real estate in the U.S.
About JMBM's Chinese Investment Group®
The lawyers comprising JMBM's Global Hospitality Group® and Chinese Investment Group® provide Chinese investors with legal and business advice. The Groups and their network of reliable professional resources help Chinese investors identify, analyze, evaluate, validate, acquire, finance and manage hotel and real estate opportunities. The Group also represents selected hotel, restaurant and other real property owners and developers in structuring investments for foreign investors - particularly Chinese investors - using the EB-5 immigrant investor visa program.
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