Hunton Andrews Kurth Assists Lifestyle Communities With Term Loan Facility

Hunton Andrews Kurth LLP acted as counsel to Lifestyle Communities (“LC”) in a multi-draw term loan facility (the “Loan Facility”) provided by Ares Alternative Credit Management LLC to be primarily used to finance LC’s development and operation of apartment communities. The Loan Facility was structured to provide for an initial term loan on the closing date and two additional term loan sub-facilities that are available to be drawn during the first twelve months of the Loan Facility (the “Delayed-Draw Term Loan Facilities”). The Delayed-Draw Term Loan Facilities can be accessed through multiple draws enabling LC to better manage its cost of capital in comparison to financing structures that require the financing to be accessed in a single draw.

LC develops and operates luxury apartment communities in select markets in the Midwest, Southwest and the Carolinas. 

The Hunton Andrews Kurth team included Kim MacLeod, Bryon Mulligan, Patrick Macher and Ave Grosenheider. Scott Austin provided ERISA advice and Kendal Sibley provided tax advice. Rob Smith and Jim Davidson also provided substantial assistance.