Walker & Dunlop arranged a $104.5 million construction loan to finance the Ritz‑Carlton Savannah, a 15‑story luxury hotel slated for the historic district of Savannah, Georgia. The loan will cover site work, building materials, and other construction expenses for the 168‑key, 190,000‑square‑foot property, which will be built on the sites of two former office buildings—one of which was Savannah’s first skyscraper.
The financing was secured by Walker & Dunlop’s Capital Markets Institutional Advisory and Hospitality Advisory teams and is backed by The LCP Group, L.P. The borrower, TMGOC Ventures, will also leverage federal and state historic rehabilitation tax credit programs to support the redevelopment of the historic structures into a luxury hotel.
The deal underscores Walker & Dunlop’s continued focus on high‑profile hospitality projects and expands its portfolio of large‑scale, premium‑brand developments. It demonstrates the firm’s ability to arrange significant financing for complex, historic redevelopment projects, a niche that has attracted attention from investors and industry observers.
The Ritz‑Carlton Savannah is expected to open in the first quarter of 2028, adding a new luxury accommodation option to a market that has limited high‑end hotels. The project is anticipated to boost tourism and spur economic development in the Savannah Historic District, where zoning restrictions and limited sites make such opportunities rare.
Walker & Dunlop has recently arranged several large financing deals, including a $371.5 million financing for The Nashville EDITION Hotel & Residences, a $112.5 million refinance for the Ace Hotel Brooklyn, and a $92 million refinance for the Hiltons at McCormick Place. The firm’s recent activity highlights its expertise in structuring complex real‑estate financing for premium brands.
The construction loan arrangement for the Ritz‑Carlton Savannah represents a strategic expansion of Walker & Dunlop’s hospitality portfolio and signals confidence in the continued demand for luxury accommodations in historic urban centers. The financing structure and partnership with TMGOC Ventures position the project for successful completion and future profitability.
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