Dealmaker: Access Point Financial Co-Originates $120M to Recapitalize New Orleans Hotel

(Image courtesy of Access Point Financial, TMGOC Ventures)

Access Point Financial, Atlanta, with TMGOC Ventures, Boca Raton, Fla., co-originated a $120 million bridge loan and preferred equity investment to recapitalize the conversion of a new dual-branded hotel property in downtown New Orleans, on behalf of Kailas Cos., Metairie, La.

The property was recently converted from a historic office building, and the dual-branded project is anchored by a 250-key Fairmont by Accor hotel, 216-key Element by Westin hotel and Emeril Lagasse’s Delmonico restaurant. It also contains 150,000 square feet of office space.

The transaction was brokered by Russ Schildcrout of Ackman-Ziff, New York.

The property was originally built in 1970 as a 31-story office building and was acquired by Kailas in 2014. Initial conversion into hotel space began in January 2024.