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Representative
Engagements
Mr. Moeckel has advised and invested with a diverse roster of clients
and partners including many of the country’s most notable hotel
and investment companies, real estate development concerns and
financial services institutions. Representative
assignments
follow:
Acquisition
Services
The
Lodging
Opportunities Fund (LOF) engaged Moeckel & Co. to
assist
with the completion of the fund’s investment cycle through the
identification and negotiation of hotel acquisitions on a nationwide
basis. This year-long mandate led to the successful
completion of
the fund’s investment cycle and to Moeckel becoming a partner in
the acquired hotels.
He was later admitted as a founding general partner in Thayer Hotel
Investments, L.P. and its affiliate Thayer
Lodging Group,
where he served as Chief Investment and Acquisitions Officer for Thayer
Hotel Investors II, the successor fund.
Thayer
Capital Partners retained Moeckel & Co. to assist
in its
successful acquisition with Marriott International of the Ritz-Carlton
Hotel Company from its primary shareholder, William B.
Johnson.
Fred Malek led a team, originally comprised of Thayer Capital, Richard
Rainwater and Ray Chambers, in acquiring the company; later bringing in
Marriott International as a partner to conclude the transaction.
Hampton
Inns, Inc. retained Moeckel & Co. as
an independent
development consultant to identify and negotiate the acquisition of
sites for parent company hotel development in the southeastern United
States.
Brokerage Representative AssignmentsMoeckel & Co. represented NUCCO, Inc. in the October 2014 sale of its 252-room Inn at Ellis Square in the Historic District of Savannah to the Noble Investment Group.
The transaction involved the sale of the second largest hotel in the
City, the termination of existing management and franchise
agreements, new IHG management and Hotel Indigo
license agreements and a planned major renovation and repositioning of
the property into an urban flagship for the Hotel Indigo brand.
Moeckel & Co. is pleased to have represented Waterfront Restaurant LLC
in the structuring and consummating a Bargain Sale of 300 Concord
Street to the City of Charleston for its $75 million development of the
International African American Museum. The parcel which is
located between the Aquarium and the Maritime Center fronting
Charleston Harbor was the original site of Gadsden’s Wharf, where tens
of thousands of slaves first entered the United States. The
transaction closed in September 2014.
Moeckel & Co., working in conjunction with Baltimore-based Lantern
Advisors, represented a Virginia-based hotel partnership in
restructuring the debt, management and franchise agreements and
securing a fresh equity infusion for its then distressed asset.
The transaction closed in April 2014.
Moeckel & Co. represented Kessler Charleston Meeting, LLC
in their identification and purchase of 247 & 249 Meeting Street
and 59 Hasell Street in downtown Charleston for the development of the Bohemian Hotel Charleston.
The transaction closed in November 2013. John Poston of Poston &
Co. also served as a buyer’s agent in the transaction, which entailed
obtaining entitlements from the City of Charleston Board of Zoning
Appeals and Board of Architectural Review for a 50-room hotel.
Moeckel & Co. represented Savannah Investors in the sale of the Mulberry Inn (Holiday Inn Historic District)
in downtown Savannah to KHP III, an investment affiliate of Kimpton
Hotels. The sale involved the assumption of a CMBS loan requiring
approvals by both the master and special servicers, the early
termination of the IHG license and a $15 million renovation and
repositioning of the property into a high-end boutique hotel.
Moeckel & Co. exclusively represented Prince Bush Smith Hotels, LLC in the sale of their Holiday Inn Historic District
at 125 Calhoun Street and the adjacent office building at 310 Meeting
Street in downtown Charleston, South Carolina. The transaction entailed
obtaining entitlements for a 50-room expansion from the City’s Board of
Zoning Appeals and Board of Architectural Review and approvals for the
conversion of the repositioned and expanded hotel to a Marriott
Courtyard. The buyer was an affiliate of the Noble Investment Group in
Atlanta, Georgia.
Moeckel & Co. represented Summerville Inns of Grandeur, LLC in the
2010 acquisition of the Woodlands Inn in Charleston, South Carolina.
The historic Woodlands Inn is one of only six hotels in America to earn the Five Star and Five Diamond awards for both lodging and dining.
The Bank of Boston (now Bank of America) retained Moeckel & Co. in both the asset management and exclusive listing to sell the Westin Hotel at Lenox Square in Atlanta. The Bank foreclosed on the asset and successfully concluded an all-cash sale of the hotel to Marriott International with Moeckel & Co. acting in both an asset management and brokerage capacity.
Various land owners also engaged Moeckel & Co. to assist with the
sale of their real estate to hotel companies as a broker, resulting in
sales to Homewood Suites, Hampton Inns, Amerisuites and Marriott International.
A major diversified real estate company whose hotel affiliate owned and
managed four underperforming hotels engaged Moeckel to formulate and
implement a plan to transition them out of the hotel management and
ownership business. The hotels were dispersed throughout the
southeastern U.S. and represented an aggregate value of $100 million.
In his capacity as SVP & Chief Development Officer of Embassy Suites, Moeckel led the transaction comprising the sale of eight parent-company Embassy Suites hotels to Tom Corcoran and Hervey Feldman. This was the lead acquisition in the formation of their Felcor Lodging Trust REIT.
Teachers Insurance & Annuity Association (TIAA)
retained Moeckel & Co. in an exclusive advisory capacity to
participate in the year-long restructuring of their $1.8 billion hotel
loan portfolio. Moeckel conducted a comprehensive review of the
portfolio and participated in asset management, loan evaluations, sales
and workouts with borrowers and hotel management companies. The hotels
were dispersed throughout the U.S. and included such brands and
managers as Ritz-Carlton, Hyatt, Westin, Hilton, Sheraton, Marriott, Intercontinental and Vista International.
Recreational
Real Estate
Chaffin
Light Associates engaged Moeckel & Co. to identify
new
marketing initiatives for their Spring Island, Callawassie Island and
Chechessee Creek Club developments in the Lowcountry of South
Carolina. Following an exploration of new organizational
structures and local and regional alliances for the marketing teams,
Moeckel led the restructuring of the sales organizations and
implemented broad new marketing initiatives for homes, home sites and
memberships as President of a newly formed consolidated real estate
sales entity.
Radnor/Smith
Partnership retained Moeckel & Co. to advise them
on the
investment and operational considerations associated with their
proposed acquisition of a major southeastern resort community.
As a principal with Laventhol & Horwath in the early 1980’s,
Moeckel advised numerous developers over the years on resort,
recreational, hotel, condominium hotel and related amenities
development on Hilton Head and Kiawah Islands and in Myrtle Beach,
Charleston, Savannah, San Destin, Sea Island, Jekyll Island and the
mountains of North Georgia and North Carolina.
Advisory
Sovran
Bank
engaged Moeckel & Co. in an advisory capacity regarding special
assets in the southeastern United States. The assignment involved the
formulation of appropriate franchise affiliations, capital
improvements, management and marketing strategies, and a disposition
plan to maximize the bank’s position in the hotel assets.
Moeckel & Co. has also represented four different law firms and
their clients in a litigation support capacity including Hilton Hotels
Corporation in a dispute with the Kuwaiti Investment Group in Atlanta
and Spencer
Fane
Britt & Brown in Kansas City.
The State
of
Michigan Public Employees Retirement System engaged
Moeckel
& Co. as an advisor to identify the market, investment and deal
structure considerations attending a proposed joint venture with
Portman Properties for the development of a luxury hotel in an existing
mixed-use development owned by the fund in Atlanta.
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