CREW Network members close $125 million transaction on Miami hotel

August 17, 2017
Written by: Cecilia Hyun, CREW Cleveland
SLS Hotel South Beach is located at the historic site of the former Ritz Plaza hotel. The unrivaled beachfront location, where 17th meets Collins, is where locals and travelers alike gather to take part in completely novel lounging, dining and accommodation expereinces. Photo courtsey of SLS Hotel South Beach.

In late 2014, Maggie Barreto Tercilla, transactional real estate partner with the law firm of Avila Rodriguez Hernandez Mena & Ferri LLP (ARHMF) and new member of CREW-Miami, along with her partner, Marco Ferri, represented the buyer of the SLS Hotel South Beach in Miami Beach. Barreto Tercilla requested that Keren Marti, National Commercial Services Vice President and National Account Manager for First American Title Insurance Company and fellow CREW-Miami member, assist with the transaction. Also working on the transaction was CREW Washington DC member Jeanne LaBelle, Senior Corporate Underwriting Counsel, Corporate Underwriting - National Commercial Services at First American Title Insurance Company. 

This $125 million transaction was successfully closed in June 2015 and was an international deal that involved multiple parties in the U.S. and abroad. A major challenge of representing a client making its first U.S. investment was providing education as to how the process works in South Florida and identifying each component that needed to be completed, such as transferring the liquor license and obtaining local zoning approvals.

The deal provided a solid foundation for future work between ARHMF and First American Title’s National Commercial Services division. Additional transactions between these entities in 2015 and 2016 totaled more than $273 million in lending and acquisitions. 

This transaction was also recognized at the chapter level with the 2015 CREW-Miami Member-to-Member Award.

CREW Network members invloved in the deal:

 

Maggie Barreto TercillaMaggie Barreto Tercilla
Partner - Real Estate Development
Avila Rodriguez Hernandez Mena Ferri LLP



Keren MartiKeren Marti
National Commercial Services Vice President and National Account Manager
First American Title Insurance Company



Jeanne LaBelleJeanne LaBelle
Senior Corporate Underwriting Counsel, Corporate Underwriting - National Commercial Services
First American Title Insurance Company

 

Cecilia HyunCecilia Hyun is a senior attorney at Siegel Jennings Co., L.P.A. Her experience is in state and local real estate taxation and general civil litigation. In addition to representing taxpayers before various county boards of revision, the Ohio Board of Tax Appeals, and the Ohio Supreme Court, she has written professional articles on state and local taxation issues. She is President of CREW Cleveland and serves on the CREW Network Communications and Editorial Committee.


Have you been involved in a great deal or collaboration between CREW members?


Submit your story


View more member-to-member business success stories in our Newsroom