ATLANTA (July 6, 2007) – Sutherland Asbill & Brennan LLP represented Kiawah Resort Associates in a joint venture and major land acquisition to develop the St. Kitts Resort in the Federation of St. Christopher and Nevis.
Kiawah Resort Associates is the Master Developer of the project and is funding 75 percent of the required equity.
The project will consist of at least three five-star luxury hotels, a marina and marina village, two Tom Fazio golf courses, 2,000 home sites, spas, beach clubs and various other amenities, all on approximately 2,300 acres known as the South Peninsula. Construction of the first two hotels, an Auberge Resort Hotel and a Mandarin Hotel, and the marina will commence in early 2008. The entire project will take approximately ten years to complete and will include the development and construction of assets valued in excess of $1.5 billion.
An extensive Development Agreement was negotiated with the local government, which was recently adopted by the St. Kitts parliament as law. The agreement provides for substantial incentives, primarily through tax abatement arrangements and waivers of the application of various regulatory restrictions.
The Sutherland team who maneuvered this complicated financial and partnership structure was led by Real Estate Partner H. Edward Hales, Jr. and included Partner M. Celeste Pickron of the Tax Practice Group, as well as Counsel Ellen S. Smith and Associates Shawn J. Eisenberg and Jason C. Kirkham, all of the Real Estate Practice Group. The Sutherland team will continue to represent the Master Developer as the project progresses, including all construction management, sales, marketing and other resort management services.
Sutherland Asbill & Brennan LLP is an AmLaw 100 law firm known for solving challenging business problems and resolving unique legal issues for many of the nation's largest companies. Founded in 1924, the firm has grown to more than 450 lawyers with offices in Atlanta, Austin, Houston, New York, Tallahassee and Washington. For further information about the firm, please visit sutherland.com.