SAN DIEGO—Lankford Phelps Portman, a real estate joint venture comprised of Portman Holdings, Lankford & Associates and Hensel Phelps, say they have secured financing for a hotel development at Lane Field, a site owned by the Unified Port of San Diego.
AIG Global Real Estate Investment Corp will serve as limited partner to the development venture, while U.S. Bank will provide construction debt financing.
The development will include a 253-room SpringHill Suites and a 147-room Residence Inn, in addition to approximately 27,000 square feet of retail space and more than 400 parking spaces. SpringHill Suites is a select-service brand while Residence Inn is an extended-stay brand, both in Marriott's portfolio. The project's hotels will have a unique design approach that creates superior and differentiated guest experiences at each property. John Portman & Associates will provide architectural services, supported locally by Joseph Wong Design Associates.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
