The new InterContinental hotel will be located minutes away from Universal Epic Universe, Walt Disney World and Universal Orlando.
Global law firm Hogan Lovells Cadwalader has provided legal advice to Civitas Capital Group on a $386 million construction loan to property developers Flag Luxury Group and Unicorp National Developments, Inc. for a new InterContinental hotel in Orlando.
The Hogan Lovells Cadwalader advisory team was headed up by real estate partner Lea Ann Fowler and senior associate Blake Soper, with support from restructuring and special situations counsel Chris Bryant, real estate partners Ira Teicher and Tim DeKeyser, and real estate associates Ali Schrier and Nusheena Parvizi.
Of the transaction, Fowler commented: “We were pleased to advise Civitas on this significant financing, which brings together experienced sponsorship, strong market fundamentals, and a thoughtful financing structure. The transaction reflects Civitas’ ability to provide creative capital solutions for large-scale hospitality developments, and we’re proud to support them in bringing this project forward.”
Headquartered in Dallas, Texas, Civitas is an EB-5 regional centre operator, an entity that collects investments from international investors to fund major projects, and a real estate capital partner. It has invested in more than 50 real estate projects since its founding in 2009.
The loan will facilitate the construction of a luxury hotel located at 8001 International Drive, close to attractions such as Universal Epic Universe, Walt Disney World and Universal Orlando. The hotel will comprise 700 rooms, as well as numerous food and beverage outlets, meeting and function areas, a spa, pool and fitness centre, and a six-level garage.
With site work having already begun, vertical construction is set to start in the first quarter of 2027 with completion set for third quarter 2029. Florida-based FINFROCK has been engaged as general contractor.
Civitas managing director and head of investments Austin Khan said of the transaction: “Civitas’ credit platform is a national leader in large-scale construction financing with an active focus on the hospitality sector. This transaction checked many of the boxes for our programme, including experienced and well-capitalised sponsorship, outstanding market fundamentals, and the need for a creative structuring solution.” He added: “Orlando is well represented by institutional ownership for large-scale trophy assets, and we are excited to be a part of bringing this hotel to market.”
Flag and Unicorp took advice from JLL Hotels & Hospitality Group in relation to the transaction.