Charles V. Hedrick

Retired Partner

Overview

Charles V. Hedrick is a partner and business lawyer with Foley & Lardner LLP. Mr. Hedrick advises business clients on corporate, securities, commercial, and banking matters. He has served as lender’s counsel and as borrower’s counsel in connection with numerous complex financing transactions. Mr. Hedrick has also assisted clients in developing and implementing strategies for loan restructuring and workouts. He represents corporations and partnerships in general business matters, including the raising of capital, and is experienced in advising clients in the area of business combinations. He is chair of the Finance & Financial Institutions Practice and a member of the Transactional & Securities Practice and Sports and Health Care Industry Teams. Mr. Hedrick is former managing partner of Foley’s Jacksonville office.

Education

Mr. Hedrick graduated, with honors, in 1979 from the University of Florida College of Law, where he was a member of the Order of the Coif, tax editor of the University of Florida Law Review (1978), and author of "Case Comment," University of Florida Law Review (1978). He received his undergraduate degree from Princeton University in 1976.

Recognition

Mr. Hedrick has been Peer Review Rated as AV® Preeminent™, the highest performance rating in Martindale-Hubbell's peer review rating system. He has been selected by his peers for inclusion in The Best Lawyers in America© since 2010 in the field of banking law and was named 2012 and 2015 Jacksonville Banking and Finance Lawyer of the Year by The Best Lawyers in America©. Additionally, in 2011 - 2014, The Legal 500 recognized Mr. Hedrick for his work in corporate restructuring and project finance.

Affiliations

Mr. Hedrick was a member of the Jacksonville Super Bowl Host Committee, and is a graduate of Leadership Jacksonville. He is on the board of directors for Leadership Jacksonville, Dreams Come True, the Downtown Ecumenical Services Council and the Cathedral Arts Project. He is a member of the Downtown Rotary Club.

Admissions and Professional Memberships

Mr. Hedrick is admitted to practice in Florida and in U.S. District Court for the Middle District of Florida. He is a member of The Florida Bar and the Jacksonville and American Bar Associations.

Representative Matters

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Foley represented Emergent Capital, Inc. in its Regulation S offering of Senior Secured Notes in Canada.
Represented Hall Equities Group (HEG) in connection with the acquisition of 29 hotels and the corporate assets of ZMC Hotels, which employs more than 1,000 people. The aggregate purchase price was approximately $225,226,000. ZMC Hotels owns and operates both private label boutique hotels, as well as those licensed by many prominent brands, including Hilton, Marriott, IHG, Wyndham, and others. Hotels are disbursed across the country from Duluth, Minnesota, to Phoenix, Arizona, to Sebring, Florida, and many locations in between. Five hotels are clustered in Scottsdale, Arizona. All of the hotels, along with other select quality properties, were master leased to and are being managed by Zenith Asset Company, an affiliate of HEG. Equity financing for the transaction was derived from a variety of sources, including the sale of three quality properties by the Hall Equities Group sponsored investment groups, cash on hand, and the refinancing of two multi-family apartment buildings. As part of the equity raise, one of HEG's investment groups sold a shopping center to Excel Trust, Inc. This shopping center was originally developed by HEG and owned since 2000. The aggregate purchase price was approximately $131,000,000. This super-regional center is known as Monte Vista Crossings and is located in Turlock, California. Monte Vista Crossings is one of the largest open-air regional shopping centers in the western United States, and is home to national retailers such as Home Depot, Target, Kohl’s, Lowe’s, Safeway, Dick’s Sporting Goods, Ross Dress for Less, Bed Bath & Beyond, T.J. Maxx, Old Navy, Office Max, Petco, In-Shape Fitness, Gap, Pier One Imports, and more than fifty additional well known shops and restaurants. The seller retained HEG to handle the ongoing leasing and construction of the next phase of Monte Vista Crossings. Another HEG sponsored investment group sold a luxury apartment project in downtown Walnut Creek, California. This six-story, 100-unit Class “A” building of concrete construction is known as The Arroyo. The project was sold to a major US-based Life Insurance Company, which has retained HEG as both the General Contractor to complete construction of the project, and as the Property Manager for the project going forward. An additional HEG sponsored investment group sold the 41,000 square foot 2890 North Main Street office building in Walnut Creek. Proceeds from all three sales were used by the investor groups to generate equity capital for the hotel portfolio acquisition. The balance of the proceeds were derived from an acquisition loan from Bank of America.
Represented REIT client in connection with its acquisition of an approximately 339,580 sq. ft. shopping center located in Palm Beach Gardens, Florida, for a purchase price of $141,500,000.