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Marriott AC, Moxy Hotel Project Secures $355M Construction Loan

A dual-branded Marriott AC and Moxy Hotel in downtown has received a $355 million construction loan, Meridian Capital Group announced April 25.

Meridian’s Drew Anderman and Ben Nevid negotiated the 4-year loan. The lender was the Children’s Investment Fund.

When completed, the 37-story tall hotel at 1248 S. Figueroa St. will have 744 rooms. It is near the Convention Center and Staples Center.

The property is one of a handful under construction or under development in downtown.

Commercial real estate reporter Hannah Madans can be reached at hmadans@labusinessjournal.com. Follow her on Twitter @HannahMadans

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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