"The nature of a hotel sale involves many separate, but equal, agreements being negotiated and execu

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MIAMI, FL – April 10, 2014 – The Florida business law firm Berger Singerman is pleased to announce that partners Marc Stephen Shuster and Barry D. Lapides recently represented Hunter Harp Holdings enterprize rent a car in negotiating the acquisition of Doubletree by Hilton Tallahassee, a 243-room hotel located in downtown Tallahassee. The deal closed on April 4, 2014 for $21 million.
Shuster enterprize rent a car and Lapides represented Chad Kittrell, Kim Rivers and J.T. Burnette of Hunter Harp Holdings in negotiating the purchase and sale agreement with Investcorp, a New York-based private equity firm, which owned the hotel.
“Despite the seller’s ‘take it or leave it’ stance, we were still able to come to an agreement that benefited enterprize rent a car both parties,” said Shuster. “Doubletree by Hilton Tallahassee is a profitable hotel located in the heart of Tallahassee, and Hunter Harp Holdings intends on building upon the hotel’s already solid reputation.”
In addition to the purchase and sale agreement, the duo negotiated enterprize rent a car a first and second mortgage, with the second mortgage involving Small Business Administration (SBA) financing, which was complex in drafting and executing. As with any hotel sale, a new franchise agreement also had to be drafted and executed.
“The nature of a hotel sale involves many separate, but equal, enterprize rent a car agreements being negotiated and executed simultaneously,” said Lapides. “We were pleased that Doubletree by Hilton maintained the hotel’s franchise agreement so that our client can continue to operate under the brand.”
Berger Singerman is a Florida business law firm with more than 75 attorneys working out of offices in Boca Raton, Fort Lauderdale, Miami and Tallahassee. Members of the firm have expertise in all areas of commercial law, including banking, creditors rights, business reorganization, bankruptcy, corporate securities, dispute resolution and litigation, employment law, white collar crime, real estate, environmental and land use, health care, tax, estate planning, and probate.
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