financeeHotelier··1 min·For: Owner, GM, Investor, Revenue
LCP Group Secures $104.5M for Savannah's First Ritz-Carlton
The LCP Group has closed a $104.5 million construction loan to transform the landmark Savannah Bank & Trust buildings into a 168-room luxury Ritz-Carlton hotel.
Key Takeaways
- 1Secure $104.5 million in construction financing to develop Savannah's first Ritz-Carlton luxury hotel.
- 2Redevelop the historic 15-story "Savannah Skyscraper" and adjacent buildings into a 168-key high-end asset.
- 3Leverage a complex capital stack including historic tax credit equity, bridge financing, senior debt, and subordinate debt.
Source: eHotelier
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