Kasowitz Represents Cottonwood Group in $102 Million Construction Loan for Luxury Hotel in Downtown Salt Lake City

Kasowitz represented Cottonwood Group, a Los Angeles-based private equity real estate investment firm, in the closing of a $102 million financing to Domain Companies, a New Orleans-based real estate investment and development firm, for the construction of a 216-room luxury hotel in downtown Salt Lake City, Utah.  The 10-story hotel will feature 7,000 square feet of meeting space, indoor and outdoor terraces for events, fitness center, rooftop bar, and restaurant.  The hotel will operate under the Kimpton brand, part of IHG Hotels & Resorts, marking its second location in Salt Lake City.

The Kasowitz team representing Cottonwood Group was led by real estate transactions partner Darwin Huang and includes partner Matthew S. McElroy and associates Kathleen M. Maurer, Jason Re, and Amanda Bradley.

Select news coverage:

• The Salt Lake Tribune: What are they building at West Temple and 400 South? Renderings show what could be in store (subscription required)
• CoffeeFranchiseHub: Salt Lake City Secures $102 Million Financing for New Downtown Luxury Hotel
• Building Salt Lake: Salt Lake City grows cold on new Downtown hotels