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9040 West Sunset Boulevard,...

WitkoffCo Secures $230M Loan For Sunset Boulevard Hotel In West Hollywood
FINANCEDHotel

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

Dustin Stolly

Walker & Dunlop

Broker

$49.4B

vol

268 deals

Broker
Mack Real Estate Group
Mack Real Estate GroupLender

West Hollywood Hotel Market Snapshot

Boundary boundary · Hotel · Loan transactions

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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