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Cases & Deals

November 5, 2019

King & Spalding advises Songy Highroads on a $66 million financing for the development of a Margaritaville hotel and resort in Lake Conroe, Texas


King & Spalding advised Songy Highroads, LLC in connection with the closing of credit facilities totaling $66,992,100, comprised of a $44,750,000 mortgage loan from Centennial Bank and a  $22,242,100 mezzanine loan from CarVal Investors LP and Ramsfield Hospitality Finance LLC.  Proceeds of the loans will be used by Songy to fund the development of a Margaritaville hotel and resort on the shoreline of Lake Conroe, Texas, the first of its kind in Texas.