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BEVERLY HILLS, CA-Thompson Hotels of New York City has acquired the leasehold interest in the 110-room Beverly Pavilion Hotel from global investment group Investcorp International and Pacifica Hotel Co. for $24 million, according to Jones Lang LaSalle Hotels, which arranged the deal. The property, a few blocks from the Rodeo Drive shopping district, is on Wilshire Boulevard at the edge of the Beverly Hills Golden Triangle. John Strauss with Jones Lang LaSalle Hotels in Los Angeles says Thompson, which is operated by the New York City-based Pomeranc Group, plans to reposition the hotel under its upscale, trendy Thompson Hotel brand, similar to the buyer’s properties in New York and Miami. The hotel offers some unique features, including its Golden Triangle location and a heated rooftop swimming pool with 360-degree views, that lend themselves well to the Thompson boutique style of hotels, he says. Thompson Hotels includes 60 Thompson in New York City, Sagamore in Miami and the Hollywood Roosevelt Hotel in Hollywood.From an investment standpoint, the Beverly Pavilion is a rare find, according to Art Buser, managing director for Jones Lang LaSalle Hotels in Los Angeles. Given the barriers-to-entry and cost of new construction, there was substantial interest from a host of regional, national and international investors seeking the cachet and stability of the Beverly Hills market, Buser says.Sellers Investcorp International and Pacifica Hotel Co. are based in New York and Santa Barbara, respectively. Investcorp invests in commercial, hotel and residential properties. Pacifica was formed in 1993 to consolidate the hospitality operations of Invest West Financial Corp., which has been involved in buying, developing and operating hotels for almost 30 years.

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