The LCP Group, a private real estate investment manager focused on hospitality, announced it has originated and arranged $104.5 million in construction financing for The Ritz-Carlton Savannah, a 168-room luxury hotel under development in Savannah’s Historic District.
LCP acted as originator and lead arranger on the transaction, partnering with Knighthead Funding as senior lender and Siguler Guff & Company as subordinate co-lender. The financing structure combines multiple capital sources, including historic tax credit equity, bridge financing, senior debt, and subordinate debt, reflecting the complexity of the adaptive reuse project.
The development, led by TMGOC Ventures, will transform two historic downtown properties, including the iconic 15-story “Savannah Skyscraper” originally built in 1911, into a flagship luxury hotel operated under The Ritz-Carlton, part of Marriott International.
Upon completion, the property will feature 168 guestrooms, multiple food and beverage venues, a rooftop bar and pool, a full-service spa, a fitness center, and meeting space. The project is expected to open in the first quarter of 2028.
The financing underscores continued investor interest in high-quality hospitality assets in supply-constrained markets. Savannah has seen growing demand driven by increased tourism and expanded convention capacity, including the recent expansion of the Savannah Convention Center, positioning the city as a rising luxury travel destination.
KEY QUOTES
“The Ritz-Carlton Savannah is a differentiated opportunity to introduce a true luxury offering in a market where new supply at this level is exceptionally constrained. We are especially pleased to partner with TMGOC, whose vision for the asset and proven ability to execute high-quality hospitality developments have been central to advancing this landmark project. Further, we value the opportunity to work alongside like-minded capital partners who share our conviction in both the asset and Savannah’s continued evolution as a luxury destination.”
Francis Lively, Chief Executive Officer, The LCP Group
“The sponsor has the opportunity to create an irreplaceable hospitality asset in downtown Savannah, and we’re excited to support this next chapter in their plans.”
Jonathan Daniel, Knighthead Funding
“Siguler Guff is proud to partner with The LCP Group to finance what we believe will be a transformational, market-defining asset. This investment reflects our core strategy: supporting top-tier sponsors like TMGOC in high-quality, supply-constrained markets such as Savannah’s historic district.”
Adam Domanico, Principal, Siguler Guff & Company
