Case Studies

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Berns Steakhouse / Epicurean Hotel Financing

Berns SteakhouseTrenam represented a secured lender in financing Bern’s Steakhouse and the adjacent Epicurean Hotel, including multiple loans totaling approximately $33MM for the various facilities secured by first mortgages on multiple parcels.    We also represented the lender in refinancing the legendary steakhouse, securing the Bern’s loan with a package of collateral including numerous south Tampa properties and, of course,  the valuable wine inventory.   The Bern’s loan was a highly tailored facility, addressing Bern's tight property configuration and refinancing needs as well as the establishment of a line of credit for ongoing wine purchases.

The Epicurean Hotel project was complex in terms of parcel assembly and development (e.g., multiparcels, air rights, multi-uses, garage to serve both Bern’s Restaurant and the Epicurean, restrictive covenants, leasehold mortgage components, and the like). The hotel matter was a construction loan for which EB-5 funds were identified as a likely source of funding beyond the bank’s construction loan fund and the initial private investors.  

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