April 28, 2019 Comments Off on Meridian Delivers $355M for Lightstone’s Fig + Pico Hotel Development Views: 880 California News, Los Angeles

Meridian Delivers $355M for Lightstone’s Fig + Pico Hotel Development

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.

Read more at Los Angeles Business Journal

Connect With Meridian’s Anderman

Connect With Lightstone Group

Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Tags: , ,

Comments are closed.

Send this to a friend