"Legal Project: Bringing 4 Parties, 3 Exchanges Together in 1 Hotel Deal"

News

When Cherry Cove decided it was time to invest in the South Florida market, the Maryland-based real estate company turned to McDonald Hopkins.

 

John Metzger, a managing member in the law firm's West Palm Beach office, was up to the task. Metzger and associate Alexa Guevara helped the out-of-state investment management group zero in on its first Florida acquisition. 

 

Cherry Cove, which owns and manages hotel, office and storage properties, entered the West Palm Beach market with a $7.4 million buy. On Dec. 20, the firm purchased the Stay Inn West Palm Beach, a hotel northeast of Palm Beach International Airport, as well as an adjacent freestanding IHOP restaurant.

 

Metzger and Guevara guided the transaction for Cherry Cove and helped the new client secure an acquisition and construction loan from City National Bank of Florida.

Click here for the full article from the Daily Business Review.