Walker & Dunlop Secures $104.5M Financing for Ritz-Carlton Savannah
Walker & Dunlop has announced the successful arrangement of a $104.5 million construction loan to support the development of the Ritz-Carlton Savannah, a landmark luxury hospitality project set to rise in the heart of Savannah’s Historic District. The project is poised to redefine high-end accommodations in one of the most culturally rich and development-constrained markets in the southeastern United States.
The financing was structured through a collaborative effort between Walker & Dunlop’s Capital Markets Institutional Advisory team and its Hospitality Advisory division. Together, the teams worked on behalf of TMGOC Ventures, the project’s developer, to secure capital from The LCP Group, L.P., which is providing the full $104.5 million loan. The transaction brought together a large group of experienced professionals from Walker & Dunlop, reflecting the complexity and scale of the deal. In addition to arranging financing, the firm’s hospitality specialists provided strategic advisory support to TMGOC Ventures throughout the process, ensuring the project remained aligned with market dynamics and investor expectations.
Beyond traditional financing, the development will benefit from a combination of federal and state historic rehabilitation tax credit programs. These incentives are designed to support the preservation and adaptive reuse of historically significant structures. In this case, the project involves the transformation of two existing office buildings into a luxury hotel. By leveraging these programs, the developers can offset a portion of qualified redevelopment costs while also benefiting from local property tax abatement initiatives, further strengthening the project’s financial feasibility.
Once completed, the Ritz-Carlton Savannah will stand as a 15-story luxury hotel offering 168 guest rooms, often referred to as “keys” in the hospitality industry. The development will span approximately 190,000 square feet and will seamlessly blend historic architecture with modern luxury design. The property is being carefully redeveloped to preserve its historical significance while introducing contemporary elements that align with the Ritz-Carlton brand’s global standards.
The site itself carries deep historical importance. Originally constructed in 1911, the building was Savannah’s first skyscraper and, at the time, the tallest structure in the downtown area. Today, it is recognized as a designated historic landmark, making its redevelopment both an architectural and cultural undertaking. The project aims to honor this legacy while transforming the property into a vibrant, world-class destination.
Guests of the future hotel can expect an extensive range of amenities designed to cater to both leisure and business travelers. Plans include multiple food and beverage outlets spread across various levels of the building, including the lower level, ground floor, second floor, and a rooftop venue that is expected to offer panoramic views of the city. These features are intended to create a dynamic hospitality experience that goes beyond traditional lodging, positioning the hotel as a social and lifestyle hub within Savannah.
According to project stakeholders, the Ritz-Carlton Savannah will address a notable gap in the local hospitality market. While Savannah is a popular tourist destination known for its historic charm and vibrant culture, it currently has a limited supply of ultra-luxury accommodations. This development is expected to meet growing demand from high-end travelers seeking premium experiences in the city.
The hotel’s location further enhances its appeal. Situated in Savannah’s Historic District, the property benefits from close proximity to some of the city’s most iconic attractions. These include River Street, City Market, and Forsyth Park, all of which are major draws for visitors. The nearby convention center also supports strong demand from corporate and event-based travelers. In addition, the area is surrounded by key economic and cultural drivers such as the Plant Riverside District, Broughton Street, the Savannah College of Art and Design, and the Port of Savannah.
Savannah’s Historic District is widely regarded as one of the most challenging markets for new development in the region. Strict zoning regulations limit building heights, restrict high-density hotel construction, and prohibit the demolition of historic structures. As a result, opportunities for large-scale developments are rare, making this project a unique, once-in-a-generation redevelopment effort. The ability to repurpose an existing historic structure while meeting modern hospitality standards adds to the project’s significance.
Executives involved in the deal emphasized the importance of expert guidance in navigating such a complex transaction. Representatives from TMGOC Ventures highlighted Walker & Dunlop’s role in structuring the financing and managing the intricacies of the process, particularly given the regulatory and financial challenges associated with historic redevelopment projects.
The announcement also reflects Walker & Dunlop’s broader strength in capital markets. In 2025 alone, the firm’s Capital Markets team sourced more than $22 billion in funding from non-agency capital providers, including nearly $16 billion dedicated to multifamily properties. This extensive experience has positioned the company as a leading advisor across multiple asset classes, serving some of the most prominent developers, owners, and operators in the real estate industry.
Overall, the Ritz-Carlton Savannah project represents a blend of historic preservation, modern luxury, and strategic investment. With strong financial backing, a prime location, and a clear market opportunity, the development is set to become a defining addition to Savannah’s hospitality landscape. By combining architectural heritage with contemporary design and amenities, it aims to deliver a unique destination that will attract visitors from around the world while contributing to the city’s economic growth and cultural vitality.
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