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. Hotel MdR occupies a premier location at 13480
Maxella Avenue in the heart of Silicon Beach, the third largest
technology hub in the world. 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.
The HFF investment advisory team that arranged the transaction
consisted of managing directors Tony Malk and Scott Hall and real
estate analyst Aaron Lapping.
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.
About Lubert-Adler
Lubert-Adler is a real estate investment company co-founded by
Ira M. Lubert and Dean S. Adler in March 1997. Messrs. Lubert and
Adler collectively have over 60 years of experience in
underwriting, acquiring, repositioning, refinancing and exiting
real estate assets. As of March 2018, Lubert-Adler has raised over
$8 billion of equity and invested in over $18 billion of assets.
The Lubert-Adler investment team consists of experienced
professionals with strong backgrounds in real estate acquisition,
asset management, distressed restructurings and capital markets.
Since its founding, Lubert-Adler has distinguished itself through
the combination of opportunistic acquisition philosophies, coupled
with value enhancement programs, designed to create high-quality
assets that seek to generate current yield at a favorable cost
basis. Learn more at http://www.lubertadler.com.
About Channel West Group
Channel West Group is a privately held real estate investment
and advisory firm, which operates in the Western United States
markets where the firm's senior members have over forty years of
experience. Learn more at http://www.channelwestgroup.com.
About Arris Investments
Arris Investments is a Los Angeles based real estate investment
management firm focused on sponsoring and providing joint venture
equity capital to projects across the Western United States. On
behalf of both institutional and private investors, Arris
capitalizes and operates real estate with value-added business
plans. Learn more at http://www.arrisinvestments.com.
About L+R
L+R is a property company based in London, UK, and is regarded
as one of the largest privately held property companies in Europe.
Founded in 1987 by brothers Richard and Ian Livingstone, L+R has
business interests in over eight countries, with offices in London
and Panama City. L+R has an extensive hotel portfolio, with more
than 11,700 rooms including iconic luxury hotels, full-service
hotels, branded hotels and resorts in the Caribbean and Europe and
the Atlas Hotel Portfolio. L+R’s hotel investments include the
London Hilton on Park Lane, Trafalgar Hilton, The Empire, Cliveden
Hotel, Chewton Glen and the Fairmont, Monte Carlo. L+R’s worldwide
investment and development programme is in excess of £9.0 billion.
Learn more at http://lrp.co.uk/hotels.
About HFF
HFF and its affiliates operate out of 26 offices and are a
leading provider of commercial real estate and capital markets
services to the global commercial real estate industry. HFF,
together with its affiliates, offers clients a fully integrated
capital markets platform, including debt placement, investment
advisory, equity placement, funds marketing, M&A and corporate
advisory, loan sales and loan servicing. HFF, HFF Real Estate
Limited, HFF Securities L.P. and HFF Securities Limited are owned
by HFF, Inc. (NYSE: HF). For more information, please visit
hfflp.com or follow HFF on Twitter @HFF.
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version on businesswire.com: https://www.businesswire.com/news/home/20180503006080/en/
HFFTONY MALK, (310) 407-2100CA. Lic. #01810668HFF
Managing Directortmalk@hfflp.comorSCOTT HALL, (858)
552-7690CA. Lic. #01917029HFF Managing
Directorshall@hfflp.comorBRAD GREENWAY, 44-020 7509 6700CA.
Lic. #0198161HFF Directorbgreenway@hfflp.comorKEVIN
MACKENIZE, (949) 253-8800CA Lic. #01898953HFF Executive
Managing Directorkmackenzie@hfflp.comorKIMBERLY STEELE,
(713) 852-3420HFF Digital Content/Public Relations
Specialistksteele@hfflp.com
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