The Yacht Basin Company Ground Lease Restructuring

Linowes and Blocher LLP represented The Yacht Basin Company in the restructuring of a 75-year ground lease for the premiere Marriott Waterfront Hotel in the Annapolis, Maryland historic district.

Linowes and Blocher LLP represented The Yacht Basin Company in the restructuring of a 75-year ground lease for the premiere Marriott Waterfront Hotel in the Annapolis, Maryland historic district, which value is in excess of $50 million. The restructuring allowed for an additional infusion of equity into the project, increasing the value of the investment for both the landowner and the hotel operator.  The Linowes and Blocher LLP team lead by J. Grier Hoyt and Charles R. Schaller implemented compromise solutions protecting the landowner while allowing maximum flexibility for hotel operations and revenue generation, addressing key tension points traditional for ground lease negotiations, such as maintenance and operations, capital expenditures, financing, transfers and various liability issues.  The hotel will continue to operate in the historic waterfront district.