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 firstname.lastname@example.org. Follow her on Twitter @HannahMadans