Ian Schrager And Ed Scheetz Secure $116.5M Loan For Hotel Refinancing In West Hollywood

The property asset involved in this transaction is the Public Hotel West Hollywood, located at 8300 Sunset Boulevard in West Hollywood, CA. This hotel asset comprises 137 keys and is currently undergoing a ground-up renovation following a $112.5 million acquisition in 2023. It is set to open in September 2026.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $116,500,000
• Lender: Driftwood Capital & Benefit Street Partners
• Landlord: Ian Schrager & Ed Scheetz
• Brokers: Rob Rubano, JP LeVeque & Joe Lieske - Cushman & Wakefield

In this transaction, Ian Schrager and Ed Scheetz secured bridge financing from Driftwood Capital and Benefit Street Partners to refinance the hotel asset. Cushman & Wakefield played a significant role in arranging the debt for the property.