The asset involved in this transaction is a hotel located at 3515 Wilshire Boulevard in Los Angeles. The sale was finalized for $68,000,000, marking it as a significant acquisition in the market. The property features 390 keys, indicating the number of rooms available within the hotel, with a price per key set at $174,359.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $68,000,000
• Buyer: P.J. Yeatman
• Buyer's Company: Corten Real Estate Partners
• Previous Owner: RECP Sydell Wilshire
• Loan Amount: $100,000,000
• Property Address: 3515 Wilshire Boulevard
• Market: Los Angeles
• Number of Rooms: 390
• Price Per Key: $174,359

Corten Real Estate Partners acquired The Line Hotel in Koreatown at a foreclosure auction. The previous owner defaulted on their loan, which was originally issued by Corten. This transaction is noted as LA County’s largest hotel transaction of 2025 amidst challenging market conditions characterized by rising foreclosures.