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| Hotel MdR, West Los Angeles, CA |
Kevin MacKenzie
LOS ANGELES, CA –– HFF announces the
sale of and acquisition financing for Hotel MdR – a DoubleTree by Hilton
Hotel, a 283-room, full-service hotel located in West Los Angeles within the
Marina del Rey submarket.
The HFF team arranged the sale on behalf of
Lubert-Adler, Channel West Group and Arris Investments to U.K.-based London
& Regional Properties (L+R). This is
the first hotel acquisition in the United States for L+R, which has a
long-standing relationship with HFF’s London office.
Additionally, the HFF team worked on behalf of
L+R to place the five-year, floating-rate loan with a Germany-based lender.
Hotel MdR was extensively renovated and repositioned
as a soft-branded DoubleTree Hotel in 2014. The hotel features an outdoor
heated pool and patio, state-of-the-art fitness facility, 24/7-business center,
market, energy room with ping-pong table, 5,429 square feet of indoor/outdoor
event space and Barbianca Local Kitchen restaurant.
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| Aaron Lapping |
The hotel is proximate to Playa Vista, Santa
Monica and Venice, which are home to some of the world’s top TAMI (technology,
advertising, media and information) companies, including Google, YouTube, Sony,
Facebook and IMAX.
Additionally, the hotel is located just minutes
from vibrant West Los Angeles submarkets, including Santa Monica, Venice and
Culver City as well as Los Angeles International Airport.
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| Tony Malk |
The HFF debt placement team representing the
borrower included director Brad Greenway in HFF’s London office along
with executive managing director Kevin MacKenzie and director Matthew
Stewart in HFF’s Los Angeles office.
“HFF’s deep knowledge and relationships in the
U.S. hotel market allowed us to strategically target a mutually beneficial
transaction for both buyer and seller,” Malk said. “This transaction
demonstrates HFF’s cross-border capabilities as well as the continued desire of
global capital sources to acquire well-located, quality hotels in strategic
markets.”
“Hotel MdR is a uniquely located asset that
derives significant demand from its surrounding technology hub,” Hall
added. “It will continue to benefit from continued demand growth and very
little new competitive supply.”
“This transaction exemplifies the strength of
the HFF platform since HFF was able to advise on all components of the
transaction while successfully importing capital from both the U.K. and
Germany,” Greenway said.
Holliday GP Corp. ("HFF"), a
California licensed real estate broker, California License
#01385740.
For more information, please contact:
KIMBERLY STEELE
HFF Digital
Content/Public Relations Specialist
(713) 852-3420
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