The Lightstone Group provided a $ 355 million construction loan for the expanding mixed-use project next to the Los Angeles Convention Center to build Marriott AC and Moxy Hotel, Fig + Pico. It is expected to offer a total of 1,150 rooms and will be one of two hotels in development.
The Child Investment Fund provided Lightstone with a four-year loan from Meridian Capital. Los Angeles Business Journal first reported the agreement.
The 38-storey rising double-branded Marriott AC and 1248 South Figueroa Street Moxy Hotel will consist of 744 rooms. There will also be 11,000 square feet of retail and parking.
Lighstone is building another 27-storey hotel in satış Fig + Pico inşa, which will have 378 rooms and a retail sales of 2.145 square meters. The Hilton brand took the rumor as an operator.
Gensler and landscape architect AHBE are designing two hotels. New York-based Lightstone received city approval for the project last summer.
A developer affiliated with the developer, according to a report released this week, spent $ 826,000 to lobby last year’s elected developers for approval, most of whom have been developers.
Fig + Pico at Lightstone comes as developers in all the pockets of the county to build more hotels. Earlier this week, Sandstone Properties made plans for a 175-room hotel in Culver City, where entertainment and media companies are relocating.
Source: The Real Deal
Melike Vodina / realesatecoulisse.com