Financing supports landmark adaptive reuse project in Savannah’s Historic District

The LCP Group, L.P. (“LCP”), a vertically integrated private real estate investment manager with more than five decades of experience in hospitality investing and lending, today announced the closing of $104.5 million in construction financing for The Ritz-Carlton Savannah, a 168-key luxury hotel.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260413055341/en/

Ritz-Carlton Savannah. Photo Credit: TMGOC Ventures

LCP served as originator and lead arranger on the transaction, acting alongside senior lender Knighthead Funding, LLC (“Knighthead”) and subordinate co-lender Siguler Guff & Company. The financing incorporated historic tax credit equity, bridge financing, senior debt, and subordinate debt, reflecting the scope and depth of repositioning two signature downtown properties into a marquee flagged asset.

The project, developed and owned by TMGOC Ventures (“TMGOC”), a Boca Raton-based real estate private equity and development firm, will introduce Savannah’s first Ritz-Carlton hotel.

The project centers on the redevelopment of the iconic “Savannah Skyscraper,” the landmark 15-story building originally constructed in 1911 as the Savannah Bank & Trust, alongside the adjacent structure. The hotel will be operated by The Ritz-Carlton, one of Marriott International’s flagship luxury brands. Interiors are being designed by Martin Brudnizki Design Studio, with architecture by Studio Mc+G Architecture and construction management led by Cleveland Construction.

Upon completion, the hotel will feature 168 guestrooms, four food and beverage outlets, a rooftop bar with pool offering skyline views, a fitness center, a full-service spa, and approximately 2,100 square feet of meeting space.

“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,” said Francis Lively, Chief Executive Officer of LCP. “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.”

Savannah continues to attract robust leisure and group demand, supported by sustained visitation growth and a significantly strengthened conventions infrastructure. The Savannah Convention Center completed its $276 million expansion in February 2025, doubling the facility’s total size to 660,000 square feet and positioning the city to compete for larger-scale national conventions and corporate events. The addition of a Ritz-Carlton hotel is expected to further elevate Savannah’s profile within the national luxury travel segment.

“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,” said Jonathan Daniel of Knighthead.

The transaction reflects sustained institutional appetite for well-sponsored hospitality investments in high-barrier markets.

“Siguler Guff is proud to partner with The LCP Group to finance what we believe will be a transformational, market-defining asset,” said Adam Domanico, Principal at Siguler Guff. “This investment reflects our core strategy: supporting top-tier sponsors like TMGOC in high-quality, supply-constrained markets such as Savannah’s historic district.”

The Ritz-Carlton Savannah is currently under development and is expected to open in the first quarter of 2028.

ABOUT THE LCP GROUP, L.P.

The LCP Group, L.P. (“LCP”) is a private real estate investment manager with approximately $1 billion in assets under management and a track record spanning more than five decades. Founded in 1973, LCP invests across the hospitality sector through a combination of equity ownership and private credit strategies executed alongside top-tier institutional partners. LCP’s credit platform focuses on whole loans and structured financing solutions for hotel acquisitions, redevelopment, adaptive reuse, construction, and recapitalization transactions. For more information, please visit www.lcpgroup.com.

ABOUT TMGOC VENTURES

TMGOC Ventures is a real estate and development private equity firm with more than 150 years of combined experience specializing in the hospitality and multi-family sectors. Co-founded by Sunju Patel and Glenn Alba, TMGOC Ventures was born out of an entrepreneurial spirit and is guided by an institutional mindset focused on acquiring and developing a robust hotel and residential portfolio that creates value for investors, partners, and communities. TMGOC’s portfolio consists of over $1.4 billion in existing and development pipeline investments comprising 3,312 hotel keys, along with opportunistic multi-family, office, and retail investments. The company is headquartered in Boca Raton, Fla. To learn about investment opportunities and current projects, visit www.tmgocventures.com.

ABOUT SIGULER GUFF & COMPANY

Siguler Guff is a multi-strategy private markets investment firm with over $17 billion of assets under management and 30 years of investment experience. Siguler Guff seeks to generate strong, risk-adjusted returns by focusing opportunistically on market niches. Siguler Guff’s core investment strategies include private credit and special situations, small business private equity, real estate and emerging markets. Siguler Guff’s investment products include direct investment funds, multi-manager funds and customized separate accounts targeting specific areas of compelling opportunity. The dedicated Real Estate Team has invested over $3.5B of equity and debt into real estate assets since 2009 and maintains an average nine years of tenure with the firm. Siguler Guff’s Real Estate Team targets senior, mezzanine, and preferred equity originations nationwide across asset classes with a focus on efficient execution, flexible structuring, and institutional borrowers. Founded in 1991 and headquartered in New York, Siguler Guff maintains offices in Boston, Hong Kong, London, Mumbai, São Paulo, Seoul, Shanghai, Singapore, Sydney, Tokyo, Houston, TX, and West Palm Beach, FL. To learn more about Siguler Guff, please visit www.sigulerguff.com.

ABOUT KNIGHTHEAD FUNDING

Knighthead Funding is a leading real estate finance firm focused on originating commercial mortgage loans nationwide on behalf of Knighthead Annuity & Life Assurance Company and its affiliates and clients. Knighthead Funding provides senior secured loans and senior participations for predevelopment, construction, value-add, transitional, and stabilized real estate transactions, offering both conventional and bespoke financing solutions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260413055341/en/