Fred S. Ridley

Partner

Overview

Fred S. Ridley is a partner with Foley & Lardner LLP, former national chair of Foley’s Real Estate Practice, a member of the Hospitality & Leisure (former co-chair) and Sports Industry Teams, and a member of the Transactions Practice. He also is a former member of the firm’s Management Committee.

Fred’s practice is focused in the areas of commercial and planned unit real estate development and finance, golf and recreational amenity and resort development, and multifamily/condominium developments.

Representative Experience

Fred has over 25 years of experience in representing developers of single-family and multifamily real estate projects and has been lead counsel to several of the most recognized waterfront developments in Florida. In connection with these projects, he has coordinated all acquisition and financing issues, environmental and coastal permitting, and negotiations of entitlements with local and state governmental entities.

Fred’s experience in acquisition and financing transactions is focused on multifamily and planned-unit and condominium development, office, and retail development, as well as private golf clubs and projects that have golf, tennis, and/or yachting as a primary recreational amenity. He coordinates Foley’s legal work for Starwood Capital Group, MetLife Real Estate Investors, OUE Limited and Tower Three Partners.

Affiliations

Currently, Fred is chairman of Augusta National Golf Club and the Masters Tournament. He is a past president of the United States Golf Association (2004-05).

Education

Fred received his J.D. degree in 1977 from Stetson University College of Law and his undergraduate degree from the University of Florida in 1974.

Recognition

Fred has been Peer Review Rated as AV® Preeminent™, the highest performance rating in Martindale-Hubbell's peer review rating system. He was recognized by Chambers USA: America’s Leading Business Lawyers (2004 – 2017) and has been selected for inclusion in the 2006 – 2017 Florida Super Lawyers® lists. In 2010 and 2013 – 2016, he was recognized by The Legal 500 in the area of real estate. Fred has also been selected by his peers for inclusion in The Best Lawyers in America© for his real estate work.

Representative Matters

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Represented an affiliate of Starwood Capital in connection with the $149 million sale of the Fort Lauderdale Westin Beach Resort & Spa to DiamondRock Hospitality.
Foley has been instrumental in representing International Speedway Corporation (ISC), the largest owner of NASCAR race tracks and other venues, in the negotiation and agreement for a joint venture (JV), as well as all of the supplemental legal documentation needed for the JV. The JV development is called ONE Daytona. In addition Foley will work on lease review for retail space and what respective usage rights the Daytona Speedway will have to the new space. ONE Daytona is a 1.1 million-square-foot mixed-use retail and entertainment center on property adjacent to Daytona International Speedway, ISC’s keystone property. The development will also include a pedestrian overpass leading to the Daytona Speedway racetrack. This is the first development of its kind in the surrounding area of a NASCAR stadium. ONE Daytona is timed for completion with a $400 million renovation of the grandstands at Daytona International Speedway in a program ISC has termed "DAYTONA Rising." The renovation will make Daytona International Speedway more convenient and comfortable for visitors, as well as enhancing the economic impact the Speedway has on the state of Florida by adding new amenities. The renovation involves rebuilding the front stretch of the grandstand — over 100,000 seats and nearly one mile long — adding new seats, suites, elevators, social areas and other first-class amenities.
Represented client in negotiating Hotel Management Agreement with Wyndham in connection with new resort in Clearwater, Florida.

Capabilities