For a massive building and renovation project that paves its way to join the J.W. Marriott franchise next year, Turnberry Isle Resort and Club turned to the Bank of China for financing and to a former Turnberry in-house lawyer for outside legal advice.
Turnberry Associates obtained a $248.9 million mortgage from Bank of China’s New York branch to cover existing debt and the construction of about 280 more rooms in a new tower, ballrooms and modern meeting rooms. The company tapped Arnstein & Lehr partner Lori Hartglass, a former Turnberry in-house counsel for 10 years, to support its review and negotiatons over hundreds of pages of documents in the deal with the Chinese bank.
