WEST HOLLYWOOD, CA – Miami-based real estate development and investment firm, Witkoff Group has secured a $230 million refinance for its EDITION Hotel in West Hollywood.
J.P. Morgan and Mack Real Estate Credit Strategies provided the financing.
The 190-room luxury hotel opened in 2019 and serves as EDITION's West Coast flagship property. Located along Sunset Blvd., the asset is situated near premier nightlight and entertainment offerings.
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A Newmark team, led by co-heads of debt and structured finance Dustin Stolly and Jordan Roeschlaub and senior managing director Nick Scribani, and associate Dan Morin, arranged the refinance on behalf of Witkoff Group.
"Lenders and investors alike are fighting to deploy their capital in top-tier, leisure-focused lodging assets, which are positioned to capture an outsized share of the pent-up travel and local demand," says Stolly.
The five-star lifestyle hotel brand is owned by Marriott International.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
