Bermuda legal services firm MJM acted as lender counsel to Starwood Property Trust and GoldenTree Asset Management on the financing of the Fairmont Southampton Hotel redevelopment.

The transaction was completed on September 19. MJM was instructed on behalf of the lenders by Sidley Austin (New York) and Gibson Dunn (Los Angeles).

MJM director Jeremy Leese said: “As a Bermuda law firm, deeply connected to the community in which we live and work, we fully appreciate the importance of this iconic property to the people of Bermuda and to our local economy.

“We very much look forward to the impetus this hotel’s reopening will provide to our tourism sector and we welcome the jobs it will create.”

The MJM team comprised Mr Leese, Mark Adams, Denis de Frias and Jennifer Haworth.

Gencom, the international owner, developer and manager of real estate, recently announced it had closed on a $550 million recapitalisation of the Fairmont Southampton resort, funding a major redevelopment and expansion of the 593-room property.

The redevelopment under way at the Fairmont Southampton will include a complete transformation of all guest rooms, upgrades to the hotel’s lobby and reception area, restaurant spaces, as well as the meeting spaces and ballrooms.

It will also include a multi-phased residential programme with luxury residences branded under the Fairmont flag, prior to opening in early 2026.

In May, Gencom announced the successful refinancing of the Rosewood Bermuda at Tucker’s Point.

Gencom is leading a $17 million renovation of the Rosewood resort that includes improvements to the golf course and clubhouse, the Beach Club and the addition of new amenities and F&B concepts.