Sectors
Foley & Lardner LLP represented TMGOC Ventures in its origination of a preferred equity investment alongside Access Point Financial, as senior lender, for a total bridge loan and preferred equity investment of $120 million to recapitalize the Kailas Companies’ recently completed conversion of a historic office building into a dual-branded hotel in downtown New Orleans.
The Skidmore, Owings & Merrill-designed mixed-use tower is anchored by the 250-key Fairmont New Orleans and the 216-key Element by Marriott New Orleans Downtown. Located in New Orleans’ central business district, the property boasts 150,000 square feet of Class A office space, restaurant, retail space, and parking garage. Adjacent to the city’s historic French Quarter, the vibrant area is supported by key demand drivers, including Tulane University, LSU Health Sciences Center, the Biomedical District, and the Caesars Superdome.
Foley’s real estate team was led by partner Jamie Zimmer with support from associates Judah Lieblich and Jimmy Pham, as well as tax partner James Howard.
