Calmwater Capital, a national direct real estate lender, has provided a $66.5 million senior secured term loan to the Relevant Group for construction of the Thompson Hotel in Hollywood, Calif. Relevant Group plans to introduce the luxury boutique Thompson Hotel brand to Southern California.
Calmwater Capital has surpassed $100 million in Hollywood hotel lending in the last two years. This is its second partnership with the Hollywood-based developer. Relevant Group is owner of 95 hotel properties in eight countries including the high-profile Dream Hollywood Hotel nearby, which utilized $34.1 million from Calmwater in 2016 to add TAO Restaurant and other high-class amenities to what is now a renowned, world-class destination.
The proposed 188,393-square-foot hotel will contain 190 rooms and will be situated on a 0.5-acre site, less than one block north of Sunset Boulevard at 1541 Wilcox Avenue in Hollywood. Upon completion, the upscale, lifestyle hotel will offer a rooft
