Thea Parent has closed billions of dollars in deals, covering most major U.S. markets. Ms. Parent possesses in-depth knowledge of the commercial real estate and hospitality industries, assisting clients with financing and development transactions involving hotels, office buildings, mixed use projects, condominiums, and apartment complexes. She advises REITs, owners, developers, borrowers and lenders with respect to asset secured loans, revolving credit facilities, securitized loans, mezzanine loans, construction loans, and tax-credit financings. She has also structured and documented sales of closely-held businesses, joint venture agreements, and development projects.
Ms. Parent conducts analysis of debt covenants with respect to their impact on operations, planning and strategic transactions. Thea also represents borrowers with respect to restructurings, work-outs and forbearance agreements.
She has handled negotiations of commercial leases, space licenses, equipment leases, and ground leases on behalf of both landlords and tenants. Thea’s leasing experience ranges from restaurant, office and retail space, to warehouse and industrial space.
With extensive knowledge of the hospitality, resort, and restaurant industries, Thea manages all aspects of these transactions. She has led negotiations on behalf of owners with the major hotel brands such as Marriott, Hilton, Hyatt, IHG (Intercontinental Hotels Group) and Choice Hotels International with respect to franchise agreements and hotel management agreements. Additionally, many owners have relied upon her to craft management agreements and negotiate with the large hotel management companies, including Sage Hospitality, Interstate Hotels and Resorts, Crescent Hotels, Davidson Hotels & Resorts, and HHM.
Ms. Parent also counsels developers, owners, and operators on restaurant branding, confidentiality agreements, trademark maintenance, licenses of intellectual property, operating contracts and agreements, concession agreements, restaurant leases and management agreements, licenses and permits, and vendor management. This full service approach allows her to advise on best practices for negotiating.
Philadelphia Bar Association, Member
Urban Land Institute, Member
MindLeaps, Board of Directors
Philadelphia Volunteer Lawyers for the Arts
Represented a REIT in the negotiation of a joint venture agreement and related documents with respect to the acquisition of a majority ownership interest in the ownership entity of a luxury hotel in Miami, Florida for $30 million.
Represented the Landlord in leasing Class A office space located at the Navy Yard in Philadelphia, Pennsylvania.
Managed diligence and negotiated the acquisition documents for the Envoy Hotel in Boston, Massachusetts for $112.5 million, including mortgage financing for the acquisition.
- Drafted the purchase agreement for the sale of a medical practice business
Represented the seller of a medical practice, including sale of the land and building utilized for the practice located in central Pennsylvania and a lease back to seller, drafting all purchase documents, the lease and related disposition documents for the transaction.
Performed diligence and negotiated the asset purchase agreement for the $75 million acquisition of the Sunnyvale Marriott in Sunnyvale, California, along with negotiating and closing on the assumption of the existing CMBS loan for the property and a 1031 exchange for the property.
Represented an innovative vertical farm owner in connection with leasing more than 350,000 sq. ft. of warehouse growing space in a historic building located in an opportunity zone in Philadelphia, Pennsylvania.
Led diligence and negotiated the asset purchase documents for the $42 million acquisition of the Annapolis Waterfront Hotel in Annapolis, Maryland, including review and negotiation of the ground lease and restaurant management agreement for the hotel. Also negotiated and closed on the $28 million acquisition financing for the property.
Georgetown University Law Center, JD, 2003
University of Maryland, Baltimore County, BA, Biochemistry and Economics, 1998
Honorable Stanley S. Brotman, U.S. District Court for the District of New Jersey and District Court of the Virgin Islands