Kailas Companies Secures $120 Million for New Orleans Office-to-Hotel Conversion Featuring Fairmont and Element Brands
🏗️ Kailas Companies secured a $120 million bridge loan and preferred equity from Access Point Financial and TMGOC Ventures. The funds recapitalize a converted office building in downtown New Orleans into a dual-branded hotel: 250-key Fairmont by Accor and 216-key Element by Westin. The tower, originally built in 1970, was acquired in 2014 and construction started in January 2024. The site includes 150,000 sq. ft. of office space and is centrally located near key New Orleans landmarks.
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