Orlando, FL (September 8, 2014) — A multi-office team of attorneys with international law firm Greenberg Traurig served as issuers counsel on behalf of timeshare operator Orange Lake Country Club, Inc., in its $148.76 million timeshare loan securitization. The deal closed on August 13, 2014
The notes were sold to institutional purchasers in a private placement and are backed by a pool of fixed-rate timeshare loans originated by Orange Lake and its affiliates. The issuance of the notes, which have a fifteen year term, will give Orange Lake a more stable fixed rate on its debt.
The Greenberg Traurig team that worked on the Orange Lake Timeshare Trust 2014-A deal includes: Todd A. Miller (Orlando); Travis M. Walker (Orlando); Jonathan I. Lessner(Delaware); Daniel P. Novakov (Dallas); Mindy B. Leathe (Miami); and Jim Mace (Las Vegas). The firm also represented Orange Lake in its two other securitizations.
Orange Lake owns and operates Holiday Inn Club Vacations at Orange Lake Resort, a timeshare resort near Florida’s top tourist attractions, Disney World and Universal Orlando. Orange Lake offers studios and villas, as well as meeting space, golf courses, pools, restaurants, and retail stores. Its flagship Orlando resort was founded by Kemmons Wilson (who also founded Holiday Inn) in 1982. The company also owns additional timeshares under the Holiday Inn Club Vacations brand in Florida, South Carolina, Tennessee, Texas, Vermont, Virginia and Wisconsin.
About Greenberg Traurig, LLP
Greenberg Traurig, LLP is an international, multi-practice law firm with approximately 1750 attorneys serving clients from 36 offices in the United States, Latin America, Europe, Asia, and the Middle East. The firm is among the “Power Elite” in the 2014 BTI Client Relationship Scorecard report, which assesses the nature and strength of law firms’ client relationships. For additional information, please visit www.gtlaw.com.
PRESS RELEASE SOURCE: Greenberg Traurig, LLP