Jeffrey B. Stern serves as co-leader of the Firm's Global
Hospitality, Resort and Timeshare Team.
He concentrates his practice in
the areas of real estate development, timeshare and hospitality with an emphasis
on the resort development and finance industries. His clients consist of a wide
variety of owners, developers, lenders, financial institutions, and marketing
and management companies, ranging in size from entrepreneurial ventures to
Fortune 100 corporations in connection with the following property types:
timeshare resorts and multisite vacation clubs, second home and homesite
developments, mixed-use and resort community developments, hotels and
condominium hotels, golf course, ski resort and country club communities.
Mr. Stern's practice concentrates on project acquisition and
development, drafting of project documents, federal and state registrations,
exemptions and regulatory issues, and management, marketing and sales issues. As
lender's counsel, Mr. Stern is experienced in providing counsel to financial
institutions, insurance companies and national finance companies in the areas of
acquisition, construction, permanent and receivables financing, as well as the
securitization of receivables. As part of his practice, Mr. Stern counsels
clients on a number of federal statutes and regulations affecting real estate,
including the Interstate Land Sales Full Disclosure Act, the Truth-in-Lending
Act and Regulation Z, the Equal Credit Opportunity Act, the Fair Housing Act and
the Real Estate Settlement Procedures Act as well as state timeshare
registration, condominium, real estate licensing and seller of travel laws and
regulations.
Mr. Stern's recent assignments have been:
- Negotiated and documented the strategic alliance formed between international hotel brand and major Florida-based timeshare developer to create the new timeshare brand Holiday Inn Club Vacations and ongoing work branding and developing new club sites
- Negotiated and documented affiliation agreement and various marketing, management and technical assistance agreements between hotel branded timeshare vacation club adding fractional resort in Florida as a component site to club
- Negotiated and documented $200 million timeshare receivables facility for national timeshare vacation club developer
- Drafted project and vacation club documents for 3 points based timeshare vacation clubs and prepared national marketing compliance strategy to permit marketing in 40 states throughout the U.S.
- Provided due diligence counsel to national lenders and Wall Street investment company on the acquisition of timeshare receivables loan portfolios in excess of $1 billion
- Prepared timeshare and fractional project documents for more than 50 U.S. fractional and timeshare projects and points based timeshare vacation clubs
- Represented national lenders in Chapter 11 proceedings of several national timeshare companies
- Represented multiple issuers in the securitization of timeshare notes receivable
- Represented ARDA on lobbying timeshare issues before Congress
Mr. Stern has been active for many years as a trustee, committee member and counsel to the American Resort Development Association (ARDA). A contributing editor to Resort Development Law Reporter, he has authored a number of articles relating to lending and regulation of real estate and has chaired seminars and lectured on many issues facing the recreational resort and timeshare industries.
