Ropers Majeski Kohn & Bentley Helps Save Historic Redwood City Fox Theater

7/14/2010

Revitalization Deal Provides Relief from Foreclosure - REDWOOD CITY, Calif., July 14, 2010 – Ropers Majeski Kohn & Bentley (RMKB) represented entrepreneurs Eric and Lori Lochtefeld and Dream Careers Inc. (formerly University of Dreams Inc.) in becoming the new operators of the historic Fox Theater in downtown Redwood City.  The Fox Theater, which has been an integral part of the city’s downtown renaissance but recently closed due to foreclosure, will experience a grand re-opening in the near future.  RMKB Partner Francois Laugier, who has been corporate counsel to University of Dreams for the past decade, led the team that negotiated the transaction.
“The Fox Theater had been a staple in Redwood City’s entertainment, music and the arts scene.  As a victim of the economic crisis, the theater was forced to close its doors until this great group of entrepreneurs saw its potential not only as an iconic venue in the community but also as a successful business venture,” said Laugier.  “I was thrilled to be a part of this deal and helping the Lochtefeld’s and Dream Careers Inc. become operators of one of Redwood City’s most notable buildings.”  In addition to Laugier, other RMKB attorneys that worked on the deal included Real Estate Partner Jesshill Love and Senior Corporate Associate Jessica Holcombe.
The new operating group includes: Dream Careers Inc., Lochtefeld’s Redwood City-based corporation specializing in “destination internship programs for college students;” Eric Lochtefeld, Lori (Lacewell) Lochtefeld, owner of Lacewell Realty and Lacewell Insurance; and Charles Lochtefeld, Scott Mayer and Kerry Nicholson.  A date has not been set for the grand re-opening, but the group expects to see it open and featuring live stage shows by September 2010.
Dream Careers Inc. will occupy the office space above the Fox Theater, which will be the headquarters for the theater’s operations.  Lochtefeld has more than a decade of experience in the music scene, such as the creation and management of a variety of music tours and festivals.
“Speaking on behalf of my partners, I am thrilled to be the new operator of this incredible, historic structure.  I look forward to seeing the Fox Theater regain its place as a regional destination where the community can enjoy premier live entertainment,” said Lochtefeld.  “This is a dream come true for me.  I love this city, which I believe has the greatest potential of any city on the Peninsula, and the ‘new’ Fox is going to be part of realizing that great potential.”About Ropers Majeski Kohn & Bentley
 

Based in Redwood City, Calif., Ropers Majeski Kohn & Bentley conducts a multi-service practice offering litigation and transactional services to domestic and international businesses and individuals.  The firm's practice areas include appellate; corporate law and business litigation; banking and consumer credit; construction; real estate; employment; environmental; professional liability; intellectual property; insurance coverage, bad faith and regulatory matters; fidelity and surety; product liability; asset protection, estate planning and tax.  For more information, visit www.rmkb.com.