WitkoffCo Secures $230M Loan For Sunset Boulevard Hotel In West Hollywood
9040 West Sunset Boulevard, West Hollywood, CA 90069
$230,000,000
$1,210,526/SF
Building Size
190 SF
Asset Type
Hotel
Closing
Sep 1, 2021
AI
A $230,000,000 loan has been secured by @WitkoffCo, the landlord of 9040 Sunset Boulevard, also known as @WeHoEdition, a hotel property with 190 units located in the West Hollywood market. The loan was provided by Mack Real Estate Credit Strategies.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $230,000,000
- Address: 9040 Sunset Boulevard AKA @WeHoEdition
- Market: West Hollywood
- Units: 190
Dustin Stolly, Jordan Roeschlaub, Nick Scribani, and Dan Morin from Newmark served as the brokers in this deal, representing @WitkoffCo. The loan was received on 9th January 2021.
Players
West Hollywood Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93