DiamondRock Hospitality Company sells 386-room Oak Brook Hills Resort and the adjacent Willow Crest Golf Club, located in Oak Brook, Illinois, as part of strategy to dispose of its non-core assets.
Willkie represented DiamondRock Hospitality Company in the sale of the 386-room Oak Brook Hills Resort and the adjacent Willow Crest Golf Club, located in Oak Brook, Illinois, as part of DiamondRock’s ongoing strategy to dispose of its non-core assets. The transaction required Willkie to negotiate a subordinate seller financing structure and related intercreditor agreements. DiamondRock is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The company owns 25 premium quality hotels with over 10,700 rooms.
The transaction was handled by partner David Drewes, of counsel Daniel Backer and associates Carly Saviano and Jennifer DiNicola.