financeasianhospitality.com··1 min·For: Investor, Owner, GM
Kailas Lands $120M for New Orleans Hotel Conversion
Access Point Financial and TMGOC Ventures co-originated $120 million to recapitalize the conversion of a downtown New Orleans office tower into a dual-branded property. The development will feature a 250-key Fairmont, a 216-key Element by Marriott, and retail and office space.
Key Takeaways
- 1Secured $120M in bridge financing and preferred equity brokered by Ackman-Ziff.
- 2Converts a 1970 31-story office tower into 466 keys across Fairmont and Element brands.
- 3Development includes Emeril’s Delmonico restaurant and 150,000 square feet of office space.
Source: asianhospitality.com
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