Bernard L. Smith is a partner in the Real Estate Group of Holland & Knight. He has significant experience in international real estate development and finance, representing developers and brands for hotel, condominium, condo-hotel, fractional interest, timeshare and mixed-use vacation properties located throughout the United States, Mexico, the Caribbean, the Middle East, Africa and the Far East. Recent transactions include:
- Represented significant U.S. hotel brand in its initial planning and development of fractional vacation resorts in Mexico
- Represented major hotel developer in the financing of a multiphase fractional development in Punta Mita, Mexico
- Represented international hotel brand in the development of its first fractional resort in Acapulco, Mexico and the subsequent bulk sale of property
- Represented major timeshare brand in the due diligence, acquisition of management rights and licensing of substantial points-based club
- Represented hotel brand in the due diligence, acquisition of management rights and licensing of multi-location fractional club
- Represented international hotel brand in development of mixed-use properties in:
- Barbados
- Bermuda
- Anguilla
- Tortola
- St. Lucia
- The Palm Island, Dubai, UAE
- Abu Dhabi, UAE
- Fujairah UAE
- Zimbali, South Africa
- Seychelles, Africa
- Manila, Philippines
- Da Nang, Vietnam
Mr. Smith also has considerable experience representing lenders and developers with real estate secured construction, inventory and receivables financing of resort developments and with the securitization of timeshare portfolios, including:
- Drafting and negotiation of loan documentation (loan and security agreements, promissory notes, guarantees, UCC financing statements escrow agreements)
- Drafting and negotiation of servicing agreements, custodial agreements and portfolio interest trust documentation
- File reviews and reporting on troubled loans
- Drafting and negotiation of loan modifications and forbearance/workout agreements
- Loan portfolio purchases and sales
- In support of numerous timeshare securitizations, preparation and negotiation of opinion letters confirming compliance with state laws, as well as federal laws, including the Truth in Lending Act, the Real Estate Settlement Procedures Act and the Equal Credit Opportunity Act
Recent transaction experience includes:
- Forbearance work on large points-based U.S. timeshare club
- Forbearance work on multisite Mexican timeshare club
- $15 million note hypothecation facility for one of the world's largest vacation clubs based in Mexico, with substantial work throughout Mexico and in Puerto Rico
- $13 million construction and note hypothecation loan in Mazatlan, Mexico
- $4 million construction and note hypothecation loan in Puerto Vallarta, Mexico
- $5 million construction and note hypothecation loan in Puerto Vallarta, Mexico
- $11.9 million construction and note hypothecation loan in Nayarit, Mexico
- $22 million note hypothecation loan for substantial vacation club with resorts located in Puerto Vallarta, Los Cabos and Cancun, Mexico
- $26 million construction and note hypothecation loan in Mazatlan, Mexico
- $11 million construction and note hypothecation loan in Los Cabos, Mexico
- $15 million note hypothecation loan with resorts located in Cabo San Lucas and Mazatlan, Mexico
- $12.3 million note purchase facility for luxury property located in Los Cabos, Mexico
- $7.5 million acquisition and note hypothecation loan in Puerto Vallarta, Mexico
- $20 million construction and note hypothecation loan in Cancun, Mexico
- $13.5 million loan facility for hotel in Rocky Point, Mexico
In the community, Mr. Smith has led Holland & Knight's team for "Rebuilding Together Christmas in April," a home repair community service program targeting low-income elderly and disabled homeowners, as well as community facilities and schools serving children from low-income neighborhoods.
Prior to joining Holland & Knight in 1997, Mr. Smith interned with the U.S. Department of Justice and was an associate with the law firm Ingersoll and Bloch.