SAN DIEGO—Commercial real estate investment banking firm George Smith Partners has successfully arranged $95 million in construction financing for development partners of a new 317-room Montage-branded hotel in downtown San Diego's Gaslamp Quarter.
The Robert Green Company and Montage Hotels & Resorts are working to the develop the hotel, and and George Smith Partners' principal Malcolm Davies, announced the funding deal. The hotel will mark the launch of Montage Hotels & Resorts' newest hotel brand, Pendry, and will be called Pendry San Diego.
“This hotel project has been in the works for more than 10 years, with a variety of challenges to overcome,” explained Davies. “George Smith Partners worked extensively with The Robert Green Company and Montage Hotels & Resorts over the past 15 months to finally secure the construction financing they needed. This allowed the work to begin on this $138 million hotel development, which had its ceremonial ground breaking earlier this month.”
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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.
