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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 covers real estate for the Los Angeles Business Journal. A USC grad, Madans has done work with publications including The Orange County Register, The Real Deal and doityourself.com.
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