April 28, 2019
New York-based Meridian Capital Group arranged a $355 million construction loan for the development of a dual-branded Marriott AC and Moxy Hotel in DTLA. New York-based Lightstone Group is developing the hotel property as part of the mixed-use Fig + Pico project at 1248 S. Figueroa St.
The 37-story hotel will have 744 rooms, as well as 11,000 square feet of retail and parking. The under-construction property is near the Convention Center and Staples Center, and is the second hotel at the Fig + Pico site, which will bring the project’s room count to 1,150.
Meridian’s Drew Anderman and Ben Nevid handled the four-year loan via Children’s Investment Fund.
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