Real Estate Transfer Case -- Transfer of a Five-star Hotel Under Construction

A famous investment group in Shanghai was invited by a county-level government to build a five star hotel in the downtown area of the county. Upon completion of the sealing of the hotel’s roof, macro-economic control policies at the national level were tightened up, which severely affects the occupancy rate of upscale hotels, thus making the hotel unlikely to make profit from the project. The investment group decided to exit. A bank showed interest in the hotel as it requires a new office building with its business expansion. After negotiation and obtaining approval from the local government, the two parties decided to proceed with the transfer of the ongoing project while transforming the five-star hotel project to an office building project. Mr. Yang represented the investment group by providing comprehensive legal service including legal counseling, analyzing and comparing the different strategies available, negotiating on behalf of the client and the drafting of legal documents during the transfer of the project.