TMGOC VENTURES AND ACCESS POINT FINANCIAL CO-ORIGINATE $120 MILLION BRIDGE + PREF EQUITY TO RECAPITALIZE THE NEW DUAL-BRANDED FAIRMONT/ELEMENT IN DOWNTOWN NEW ORLEANS FOR THE KAILAS COMPANIES
BOCA RATON, FL. –AUGust 20, 2026
TMGOC Ventures [TMGOC] and Access Point Financial [APF]announced the co-origination of a $120MM million bridge loan and preferred equity investment to recapitalize the recently completed conversion of a historic office building to a dual-branded trophy hotel in downtown New Orleans, La., on behalf of Kailas Companies. The dual-branded project is anchored by a 250-key Fairmont by Accor, 216-key Element by Westin and Emeril’s Delmonico restaurant, as well as 150,000 sf of Class A office space. The transaction was brokered by Russ Schildcrout of Ackman-Ziff.
TMGOC Ventures is a real estate development and private equity firm with more than 150 years of combined experience specializing in the hospitality and multi-family sectors.
“Naveen Kailas and Kailas Companies are an ideal hotel partner with a strong and respected local presence that knows the New Orleans market intimately,” said Dana Tsakanikas, chief investment officer, APF. “With an established track record of 36 years, Kailas owns and operates a portfolio of office, multifamily and retail properties within and around The Crescent City, accounting for over two million square feet of building space. Access Point Financial looks forward to the project’s success and maintains its desire to work with best-in-class partners like Kailas Companies.”
“Sunju Patel and Glenn Alba at TMGOC are the perfect example of an ideal working relationship,” Tsakanikas added. “Between our two firms’ existing, long-standing relationship and substantial hospitality investment, ownership, operational and asset management experience, we are a natural fit together.”
Built in 1970 as a 31-story office building, the Skidmore Owings & Merrill-designed tower and was acquired by Kailas in 2014 Initial conversion construction commenced in January 2024.
“As we continue to expand our footprint and revitalize historic properties throughout the New Orleans market, it becomes increasingly important for us to work with well-respected credit firms who know the hospitality industry intimately, ” said Naveen Kailas, Kailas Companies. “APF and TMGOC have lived up to their reputation, delivering the right solution to meet our needs.”
“Having worked together on numerous projects over the past years, we have come to know and respect the APF team,” said Sunju Patel, managing partner, TMGOC. “Specializing in hospitality, they bring a depth of knowledge to these types of hotel deals that is unparalleled and that gives us further confidence in the strength of these deals.”
The property is located in New Orleans’ central business district, one block away from Canal Street and a few blocks southwest of the French Quarter, just a short walk from Caesar’s Superdome. The area houses several demand drivers, such as Tulane University, LSU Health Sciences Center, Caesars Superdome and the Biomedical District.
“Our partnership with APF on this recapitalization validates the thesis behind our preferred equity and mezzanine credit platform,” said Glenn Alba, managing partner, TMGOC Ventures. “We’re pleased to align with Kailas Companies on this landmark New Orleans asset and to deliver flexible capital to best-in-class sponsors.”
About Kailas Companies
Founded in 1990, Kailas Companies owns and manages over two million square feet of building space—from historic renovations to modern office towers, from luxury residences to vital retail centers. Every project reflects a belief in thoughtful development, strong partnerships and building places that matter. The company makes decisions about land and buildings, but the city was here long before it and will be here long after; therefore, every project is guided by the same belief: build with purpose, invest deeply and leave every place better than you found it. For additional information and key contacts, please visit http://www.KailasCompanies.com .
About Access Point
Founded in 2011, Atlanta-based Access Point Financial (APF) is a multi-billion dollar real estate private credit firm focused on the hospitality industry, offering bespoke investment and direct financing solutions (senior debt, construction debt, mezzanine and preferred equity) to experienced hotel owners and franchisees of all major hospitality brands and independent boutique hotels throughout the United States.
Chris Daly, media inquiries
(703) 864-5553