skip to main content
Experience List
  • Email Page
  • Create PDF
  • Print Page

Stephen R. Ledoux

Steve is a partner in the Real Estate practice, co-chair of the Hotel Industry practice, and serves clients from the firm’s San Francisco and Portland offices. He represents sponsors, owners, and lenders in the development, acquisition, and financing of hotels, business parks, and mixed-use transit-oriented development (TOD) residential communities. His clients also include international real estate investors.

Steve brings passion, loyalty, and experience to solve regulatory, political, relational, and financial challenges. He also assists clients in structuring and closing equity and debt financing, obtaining project approvals, and maximizing public-private participation. His efforts have enabled clients to achieve their goals despite challenging circumstances with marquee projects.

Leading lawyer rankings and directories note Steve’s prominence in the field, including Chambers USA which quoted one of his clients describing him as “brilliant.” Tom Callahan with PKF Consulting USA has described Steve as the “poster child” for public private development.

Steve regularly serves as a lecturer and panelist, including at the NYU International Hospitality Industry Investment Conference, American Lodging Investment Summit (ALIS), The Lodging Conference, American Planning Association (APA), and Association of Bay Area Governments (ABAG).

Key Representative Matter
Intercontinental “The Clement” Hotel Monterey
Steve introduced the developer to the City and land owner to kick start this project after 25 years of inactivity. He conceived of and implemented the legal strategy, including (i) negotiating a 99 year ground lease with generous free rent, (ii) negotiating and structuring public-private partnership tax rebates, and (iii) obtaining all environmental approvals and entitlements, including from the California Coastal Commission, Army Corps of Engineers, Monterey Bay National Marine Sanctuary, City of Monterey, and others. The hotel was named best hospitality project in McGraw-Hill Construction's California Construction awards. Steve also led a DWT team that closed a nearly impossibly complex CMBS loan to refinance the Hotel in 2015.

Practice Highlights
Steve has helped world class projects from the ground up on the West Coast, including complex developments such as Cavallo Point Sausalito, Intercontinental “The Clement” Monterey, and The Lodge at Columbia Point; award winning industrial projects in the San Gabriel Valley, such as the Huy Fong world headquarters, Mission 71, Mission West, and Alderson Business Parks; transit-oriented residential multifamily in San Jose, such as the Ohlone and Meridian Apartments, and one of the largest greenhouses in the world (Windset Farms) in Santa Maria.

Steve has represented hotel and other clients in billions of dollars of real estate construction and permanent financing with counterparties such as Goldman Sachs, Morgan Stanley, GMAC, GECC, AFL-CIO Building Investment Trust, Wells Fargo, EuroHypo, Rabobank, Bank of China and others.  He has been a part of CMBS 1.0, 2.0 and 3.0, with a focus on pricing, terms, and protecting clients from unintentional personal recourse.  Also structures and closes mezzanine, debt-equity, and other specialty financing devises.

Acquisitions and Dispositions
Steve has been lead counsel in many recent complex acquisitions for some of the industry’s most recognizable properties, including Ritz-Carlton, Holiday Inn Civic Center, Americania, Good, Carriage, Vertigo, Metropolis, and Fairmont (lender) in San Francisco; Hotel Epiphany, Palo Alto, Hotel 1000, Seattle; China Globe and Saigon Village in the South Bay; and disposition of Sundance Cinemas, Laguna Hills Holiday Inn, and Oregonian Buildings.

Professional & Community Activities

  • Board Member, Lan Su Chinese Garden
  • Counsel, Marin Agricultural Land Trust & Regeneration Project
  • Past Corporate Counsel, Board of Directors, Jazz in Flight, Children in Flight
  • Tri-County Lodging Association
  • Washington State Lodging Association
Read about our real estate work with inn at the 5th