SAN DIEGO-A development company headed by John Moores, the owner of baseball’s San Diego Padres, says his company has secured $104 million in financing for a 512-room hotelin the Downtown Ballpark District and will break ground later this month.

Moores’ JMI Realty will also invest $44.5 million of its own capital into the project, which will fly the Westin banner. The hotel is the first and largest of a trio of hotels slatedfor the burgeoning area.

The loan was provided by WestLB of Germany and Bank One. JMImight also tap the two banks for financing of a 203-room AmeriSuiteshotel expected to break ground in the same area in a few months. Thecompany also wants to build a smaller 105-room hotel in the area.

Financing had been a question mark in proposals to build the JMIprojects and others that city officials say are needed to help pay theinterest on bonds that will be sold by the city to pay for neededinfrastructure improvements in the Ballpark District.

Among the also proposals is a 1,200-room hotel at the site of the formerCampbell Shipyard that would be developed by Manchester Resorts, whichis embroiled in a legal dispute with JMI over who has the right to buildthe project. Manchester is also looking for financing to build a750-room addition to the Hyatt.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.