Lori Lustberg Smith’s practice focuses on all facets of commercial real estate transactions, including the representation of clients in the acquisition and disposition of hotels, office, multifamily, multi-use, retail and industrial properties, and all financing in connection therewith.
Her experience includes the representation of hospitality clients in connection with not only traditional management agreements and purchases and sales but also bond-financed hotel and convention center projects.
She also has experience in negotiating (for both tenants and landlords) leases, options to buy, easements, licenses and all other real property-related matters.
Lori regularly represents lenders in connection with origination and securitization as well as workouts, forbearance, modifications and exercise of remedies (including foreclosure), and generally advises clients on issues relative to the servicing of CMBS and non-CMBS loans and compliance with related pooling and servicing agreements (including REMIC issues).
Lori counsels clients in the drafting and negotiating of complex multi-tiered project and investor-level joint venture agreements and assists with the exercise of rights and remedies thereunder, including exit strategies, withdrawal negotiations and removals.
Many of such projects are multifamily low-income housing developments with tax credits.
- Representing Fortune 500 company (the largest lodging REIT and one of the largest owners of luxury and upper-scale hotels) in the disposition of multiple trophy hotels totaling sales prices in excess of $750 million.
- Representation of a real estate investment advisor and development firm (whose investors include many of the world’s largest endowments, foundations and financial institutions) in the purchase of a $55 million hotel in San Antonio, Texas, out of receivership (and on which it held a B note), including advising on REMIC issues, negotiating new international franchise agreement, PIP discussions, management agreement negotiation and related matters.
- Serving as outside counsel for a premiere company in the development, construction and management of specialized assisted living facilities nationwide for people with Alzheimer’s disease and other forms of memory impairment.
- This representation includes advising as to real estate (site selection, acquisition, construction, development, property management and identifying particular property-specific concerns), finance and health care regulation and compliance matters.
- Serving as exclusive counsel for leading secondary mortgage lender in connection with its contributions to community development investment funds, which has included transactions involving over $16 billion in multifamily, senior housing and/or student housing assets.
- Representation of a multi-brand international hotel chain in connection with construction, design/build, pre-opening services, technical services and management of public, tax-exempt, bond-financed convention center hotel projects in Austin, Texas; Omaha, Nebraska; Vancouver, Washington; Blacksburg, Virginia; Baltimore, Maryland; and Columbus, Ohio.
- Serving as national workout counsel to the leading provider of integrated products and services for the low-income multifamily housing industry, working with a variety of products, from tax credit equity products to low-income housing tax credit funds.
- Representation includes regularly counseling such client in the drafting and negotiating of complex multi-tiered project and investor-level limited partnership agreements and assisting with the exercise of rights and remedies thereunder, including exit strategies, withdrawal negotiations and removals.
- Negotiation of the formation of joint ventures for the purpose of recapitalizing senior housing facilities, and the related loan transactions, having an aggregate sales price of approximately $62.5 million.
- Representation of leading secondary mortgage lender in its $410 million loan pool purchase, secured by multifamily properties in various states and of varied sizes.
- Representation included extensive due diligence review and analysis, negotiation of sale and servicing agreements and advising client in areas spanning credit, underwriting and legal departments.
- JD, SMU Dedman School of Law, cum laude, Computer Law Review & Technology Journal, Associate Editor, 1998
- BA, Southern Methodist University, cum laude, 1994
- CREW Dallas member
- SMU CREW Leadership Certificate Program
- Trustee, CREW CIC Board of Trustees
- Dallas Bar Association
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