A team of Foley attorneys led multifaceted negotiations for the development of one of the largest mixed-use resort complexes in the Clearwater, Florida market. Foley represented K&P Clearwater Estate, LLC, the developer of the high end Wyndham Grand Clearwater Beach Resort.
The resort will be comprised of two towers—the hotel tower will contain 345 hotel units and the condominium tower will have 105 purpose built timeshare condominium units. In between the two towers, the resort will host amenities and operational facilities such as a resort-quality swimming pool and pool deck, a fitness center, a full spa, restaurants, bars, beach access, a convenient front desk, approximately 24,000 square feet of meeting and event space, and 550 parking spots. The mixed-use nature of the resort added several complexities to the negotiations, requiring the Foley team to identify novel solutions to establish flexible ownership and management terms and solidify the logistics of shared amenities.
Foley’s involvement included negotiation of the management agreement with Wyndham Hotel Management, Inc., the sale and marketing agreement of the condominium tower to Wyndham Vacation Resorts, Inc., and the $110 million loan. The Foley team also drafted the condominium documents and shared easement agreement to integrate the mixed uses at the resort.
“This 700,000 square-foot resort is the culmination of a long held dream of K&P owner Dr. Kiran Patel and a few years of work by the Foley team,” said Bill West, director of development at K&P Clearwater Estate, LLC. “Foley’s dedication and ability to determine solutions for complex legal issues gave the entire K&P team confidence throughout the transaction.”
The Foley team was led by Dan Bachrach and included Pam Brown and Laura Zampieri.