KUD International plays critical role in securing project financing by guaranteeing the on-time completion of 1500 room luxury resort
October 20, 2009
Orlando, FL- Responsible for the development of the Waldorf-Astoria and Hilton Hotels at Bonnet Creek Resort, KUD International LLC., represented by Lowndes, Drosdick, Doster, Kantor & Reed, P.A., played a critical role in bringing one of the largest new hotel resorts in the country to Central Florida, offering more than 1500 rooms, 150,000 square feet of meeting space and 71,000 square feet of ballroom space.
KUD International worked closely with Lowndes, Drosdick, Doster, Kantor & Reed to draft and negotiate agreements among the developer, the owner and the design/build team including Architect Smallwood, Reynolds, Stewart, Stewart and Associates Inc. and Contractor Hunt Construction Group. The agreements addressed allocation of risks and duties in connection with the design, permitting and construction of the Waldorf-Astoria and Hilton Hotels at Bonnet Creek.
“What makes a project like this take off and get funding from the lender is the financial backing of KUD’s parent company (Kajima) in Japan,” said Lowndes, Drosdick, Doster, Kantor & Reed partner Michael Gibbons who is the lead attorney on the deal. “Their balance sheet is so strong that lenders will step up and lend hundreds of millions of dollars on the strength of the Kajima guarantee.”
Located on 23 acres within the Bonnet Creek Resort adjacent to Interstate 4 and the entrance to Disney World, the resort hotel complex includes a 1,000 room four-star Hilton Hotel, a 500 room five-star Waldorf Astoria Hotel, associated meeting spaces, structured parking, resort spa, related facilities and infrastructure improvements. In close proximity to the hotels there are also amenities such as 12 diverse restaurants/eateries and an 18-hole golf course.
About KUD International LLC
A wholly owned subsidiary of Kajima USA, KUD International LLC was established over ten years ago to specialize in developing large-scale public-private projects. The company provides broad-based program management and development services to clients around the world, coordinating all facets of financing, planning, design and construction of large-scale real estate. KUD’s professional staff is comprised of specialists with extensive experience in finance, architecture, engineering, construction, real estate law, and public-sector deal structuring. With offices in New York, California and London, KUD is a Kajima USA company and part of the global Kajima Corporation, one of the world’s largest development, design and construction companies with offices in over 20 countries worldwide.