Acquisition of $160 Million Properties

GableGotwals represented an Oklahoma-based client in the $160 million purchase of producing oil and gas properties and undeveloped leasehold in the Oklahoma and Texas panhandle region.

By |2024-04-15T15:57:32-05:00July 16th, 2021|Comments Off on Acquisition of $160 Million Properties

$30 Million Real Estate Refinance

Represented a real estate developer in connection with the refinancing of an office park complex and buyout of the developer’s partner.

By |2024-04-15T15:59:45-05:00July 16th, 2021|Comments Off on $30 Million Real Estate Refinance

Hotel Renovation

Advised the lender in connection with a $6.4 million loan to a hotel developer for the acquisition and renovation of the Hyatt Place Hotel.

By |2024-04-15T16:03:53-05:00July 16th, 2021|Comments Off on Hotel Renovation

$31.6 Million Construction Loan for Hotel Renovation

GableGotwals represented the lender in a $31.6 million construction loan to a hotel development group to refurbish the historic St. Anthony Hotel in San Antonio, Texas; the project also involved the use of historic tax credits.

By |2024-04-15T16:24:59-05:00July 16th, 2021|Comments Off on $31.6 Million Construction Loan for Hotel Renovation

$12 Million Construction Loan for Renovation of Tulsa City Hall

GableGotwals represented the lender in an approximately $12 million construction loan to be used in connection with historic rehabilitation tax credits to renovate and refurbish Tulsa’s Old City Hall for use as a hotel.

By |2024-04-15T16:29:10-05:00July 16th, 2021|Comments Off on $12 Million Construction Loan for Renovation of Tulsa City Hall

$23.5 Million Credit Facility for Renovation of the Mayo Hotel

GableGotwals represented the lender in a $23.5 million loan transaction that enabled the borrower to renovate the historic Mayo Hotel in downtown Tulsa, Oklahoma. The project also relied substantially on historic rehabilitation tax credits.

By |2024-04-15T16:47:34-05:00July 16th, 2021|Comments Off on $23.5 Million Credit Facility for Renovation of the Mayo Hotel

Unanimous Oklahoma Supreme Court Decision Regarding the Power of Eminent Domain

GableGotwals secured a unanimous victory from the Oklahoma Supreme Court regarding the necessity of takings under the power of eminent domain. The Firm’s client, a FERC interstate natural gas pipeline, brought a condemnation action to acquire additional easement rights, including access easements over existing roads because the existing agreements between the parties did not provide reliable access to the pipelines and facilities for erosion control and maintenance work. The landowner challenged the necessity of the taking, arguing that the preexisting easements preempted any later exercise of eminent domain and that the taking did not meet the legal standard of necessity for public use. The Oklahoma Supreme Court rejected the landowner’s arguments and ruled in favor of the Firm’s client. In affirming the district court’s ruling, the Oklahoma Supreme Court upheld well settled law that the right of eminent domain cannot be contracted away, meaning that preexisting easements do not prevent later exercise of eminent domain. The Court also reiterated that condemning authorities, such as pipelines, have wide discretion in determining the location and routes of their easements. The Court concluded that the easement rights sought in the condemnation action were necessary for the public use.

By |2024-05-31T15:30:56-05:00May 31st, 2021|Comments Off on Unanimous Oklahoma Supreme Court Decision Regarding the Power of Eminent Domain
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