Search
 
News

Machine Investment Recaps Hollywood Hotel Portfolio for $208M

The $208 million loan facility provides funding to complete two under-construction properties.

By Les Shaver | April 27, 2021 at 07:21 AM

Machine Investment Group has announced the $208 million recapitalization of a hospitality portfolio located in Hollywood, CA.  With the package, sponsor Relevant Group can complete the construction of the two hotels by this summer.

The portfolio, which is under construction, includes the Thompson and tommie branded hotels and event and food and beverage spaces in the Citizen News Building. The $208 million whole loan moves the previous senior mortgage held by Calmwater Capital to a $136 million A-note and incorporates a $72 million B-note originated by Machine. A joint venture sponsored by affiliates of Machine Investment Group and Taconic Capital provided the B-note.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.