Relevant Group's Selma Avenue Hotel In Hollywood Secures $61M Loan From Wells Fargo

6417 Selma Avenue, Central LA, Los Angeles, CA, USA

$61,000,000

$438/SF

Building Size

139,000 SF

Asset Type

Hotel

Closing

Dec 30, 2019

AI

The Hollywood hotel located at 6417 Selma Ave has recently undergone a closed transaction. The property is a hotel with 178 units and a total square footage of 139,000. The deal involved a loan from Wells Fargo in the amount of $61,000,000, with a fixed-rate agreement for a term of three years. The hotel is owned by Relevant Group, specifically Richard Heyman and Grant King.

Summary of transaction details:

Property Type: Hotel
Transaction Amount: $61,000,000
Address: 6417 Selma Ave
Market: Hollywood
Units: 178
Square Footage: 139,000

In terms of lease agreements, the majority of the hotel's space is leased by Tao Group, including notable establishments such as The Highlight Room, Beauty Essex LA, Tao LA, and Avenue LA. These spaces have been designed by the Rockwell Group. Additionally, Luchini Pizzeria, designed by Studio Collective, also occupies a portion of the hotel.

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