Tidal Real Estate, Left Lane secure $80m for hotel conversion
Transactions - JUNE 5, 2024

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Tidal Real Estate, Left Lane secure $80m for hotel conversion

by Denise Moose

Tidal Real Estate Partners (Tidal) and Left Lane Development (Left Lane) announced they secured $80 million to finance the conversion of 110 Ann Street. The loan will enable the hotel conversion and stabilization of the 157-unit property located at 110 Ann Street in the Historic District of Savannah, Ga. The property was recently delivered in August 2023 and was built using sustainable mass-timber construction.

Mavik Capital Management provided the investment for the conversion.

110 Ann Street is currently master leased to the Savannah College of Art and Design (SCAD) through June 2024 for use as student housing. Following the conclusion of the existing lease, Tidal and Left Lane intend to convert the property into a to-be-announced new hotel concept. The hotel will feature large guest rooms (averaging 769 square feet) that will be equipped with full kitchens, separate living rooms and full-size washer/dryers. The converted property is expected to open in the first qua

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