Walker & Dunlop announced it has arranged a $104.5 million loan to finance the construction of the Ritz-Carlton Savannah, a 15-story luxury hotel located in the Historic District of Savannah, Georgia.
The financing was arranged on behalf of TMGOC Ventures, with capital provided by The LCP Group, L.P.. The transaction was executed by Walker & Dunlop’s Capital Markets Institutional Advisory and Hospitality Advisory teams.
The project involves the redevelopment of two historic office buildings into a 168-key Ritz-Carlton hotel spanning approximately 190,000 square feet. Originally constructed in 1911, the property was the first skyscraper in downtown Savannah and remains a designated historic structure. The development will include multiple food and beverage outlets across several levels, including a rooftop, and will incorporate federal and state historic rehabilitation tax credits along with local property tax abatement programs.
Located in Savannah’s Historic District, the site is positioned in one of the Southeast’s most supply-constrained hospitality markets due to strict zoning regulations and preservation requirements that limit new development and prohibit demolition of historic buildings. The property sits near major demand drivers including River Street, City Market, Forsyth Park, the convention center, the Plant Riverside District, Broughton Street, the Savannah College of Art & Design, and the Port of Savannah.
Walker & Dunlop noted that its Capital Markets team sourced more than $22 billion from non-agency capital providers in 2025, including nearly $16 billion for multifamily properties, reinforcing its position as a leading advisor across asset classes.
KEY QUOTES:
“Located in the heart of Savannah’s Historic District, the Ritz-Carlton Savannah will redefine premium luxury hospitality with a fresh, design-driven approach. With very few luxury hotels currently operating in the market, this property addresses a clear demand for high-end accommodations and amenities. We’re proud to have represented TMGOC to bring this much-needed, one-of-a-kind destination to life for visitors to the Savannah area.”
Ari Hirt, Managing Director of Capital Markets Institutional Advisory at Walker & Dunlop
“The Savannah Historic District is one of the most sought-after development markets in the Southeast, particularly for hotel projects, given its limited sites, restrictive zoning, and highly selective review process. We appreciate Walker & Dunlop’s expertise and steady guidance in navigating a complex transaction and helping bring the Ritz-Carlton Savannah to life.”
Alison Tan, Vice President of Investments at TMGOC Ventures
