Weil advised Service Properties Trust in connection with the 144A issuance of $745 million Net-Lease Mortgage Notes backed by commercial real estate and related triple-net leases. The notes will be issued in three classes to institutional buyers in the following principal amounts and have been rated by Standard & Poor’s Ratings Services as follows: (i) Class A: $220 million of 5.157% of AAA rated notes, (ii) Class B: $375 million of 5.795% of AA rated notes and (iii) Class M: $150 million of 7.549% of BBB rated notes.

Service Properties Trust is a real estate investment trust with over $10 billion invested in two asset categories: service-focused retail net lease properties and hotels.

The Weil deal team was led by Structured Finance and Derivatives Co-Head Frank Nocco and partner David Jackson, and included Structured Finance and Derivatives associates Will Richardson and Preston Wickremesekera (Not Yet Admitted in NY); Private Funds partner David Wohl; Restructuring partner Kevin Bostel; Executive Compensation & Benefits partner Sarah Downie; Environmental partner Seth Kerschner; Real Estate attorney Leslie Smith; London Structured Finance and Derivates partner Andrew Lauder; and Tax counsel Dylan Lionberger.