Updated Sep 8, 2026
Ian Schrager And Ed Scheetz Secure $116.5M Loan For Hotel Refinancing In West Hollywood
8300 West Sunset Boulevard
$116,500,000
Building Size
—
Asset Type
Hotel
Closing
Sep 8, 2026
About this deal
AI
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.
On the Map
$116,500,000
Hotel
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93