Blog Archives
The Westshore Grand, A Tribute Portfolio Hotel
In October 2023, LCP successfully closed a mezzanine loan (“Mezz Loan”) totaling $15.7 million with Beach Point Capital. This loan was extended to entities owned by Crescent Real Estate and Arden Group. The Mezz Loan was originated in coordination with a senior loan provided by Benefit Street Partners (“Senior Loan”), totaling $31.3 million. The property, situated along West Kennedy Boulevard in Tampa, enjoys convenient access to the city’s main roads,
Dream Hollywood
In March 2023, a joint-venture between LCP and Safanad, a real estate and private equity investment firm, made a $33,300,000 senior loan to the Dream Hollywood, the proceeds of which were used to refinance existing debt on the asset and fund reserves. Dream Hollywood is one block from the intersection of Cahuenga Boulevard and the famed Hollywood Boulevard in Hollywood, Los Angeles. The property is Dream Hotels’ west coast flagship,
Cambria Hotel® New Haven University Area
LCP acquired a newly built, 130-room Cambria Hotel® New Haven University Area in October 2022. The Hotel opened in September 2022 and will be managed by Crescent Hotels & Resorts, LCP’s affiliate operator with more than 100 properties in the United States and Canada. Located at 20 Dwight Street, the Hotel is only minutes from Yale University and Yale New Haven Hospital, as well as the city’s best shopping, dining,
Postcard Inn On The Beach
A joint-venture between LCP and Safanad, a real estate and private equity investment firm, acquired the iconic Postcard Inn on the Beach, St. Pete Beach, Florida in March 2022. The 196-room oceanfront resort is situated on an expansive 9.64-acre tract with over 300 feet of frontage along the Gulf of Mexico offering unparalleled access to St. Pete’s renowned beaches. Initially constructed in 1957, Postcard Inn features a lobby café, a
Tapestry Collection by Hilton The Printing House, Nashville
LCP, along with a consortium of capital partners, provided a construction loan for The Printing House, a Tapestry by Hilton located in Nashville, Tennessee in 2021. The 11-story, 180-room hotel and retail development will have ground-floor retail, three parking levels, an elevated lobby check-in, and guest rooms with views of the Nashville skyline. The hotel’s restaurant and lounge, The Local Kitchen & Tap, will feature an outdoor rooftop pool with
DoubleTree by Hilton Hotel Newark Airport
LCP owns the DoubleTree by Hilton Hotel Newark Airport in Newark, New Jersey. A $22 million modern renovation of the hotel has been completed including the pool and fitness center. The hotel is next to Newark Liberty International Airport, with a free shuttle every 30 minutes. It is also seven miles from Cape Liberty Cruise Port and 10 miles from New York City.
Hotel Melby Downtown Melbourne
Hotel Melby, a Tapestry Collection by Hilton in downtown Melbourne, Florida, is a modern, 180-room boutique hotel, with 24 corner suites. It has 11-stories and a 170-space parking garage with 30 dedicated public parking spaces. The hotel features a fitness center and a spacious rooftop lounge with an indoor/outdoor terrace that has sweeping views of the surrounding area as it is the tallest building in Melbourne upon completion. Hotel Melby
Hilton Kansas City Airport
LCP acquired the Hilton Kansas City Airport in Kansas City, Missouri, in 2018. The hotel is five minutes from the airport and an $8.7 million renovation is underway.
Fairfax Marriott at Fair Oaks
LCP has owned the Fairfax Marriott at Fair Oaks in Fair Oaks, Virginia, since Q4 2017. The hotel has an on-site restaurant, 13 event spaces, and pet-friendly rooms and suites.
Hampton Inn & Suites Nashville Downtown
In early 2016, LCP bought the Hampton Inn & Suites Nashville Downtown, in Nashville, Tennessee. The building was renovated in 2017 including adding 53 hotel rooms and approximately 2,200 of retail space. LCP sold the property in July 2019 which resulted in a return of 2.65X the initial investment for LCP and its investment partners.