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BRENTWOOD, CA-The $35 million sale of the 208-room Hotel Angeleno ranks as the largest this year in L.A. County in both price and size of the property, according to brokers from the Encino office of Investment Real Estate Associates (IREA) who negotiated the transaction. The property, a 16-story cylindrical tower at 170 N. Church Lane, has long been a landmark on the Westside L.A. from its location at the crossroads of Brentwood and Bel-Air at the base of the Getty Museum where Sunset Boulevard, where it is visible from the 405 Freeway.

According to Yubin Tao, a senior associate with IREA who represented the seller, the price reflected the buyer’s belief in the long term value of the asset. “There was a strong motivation by both the buyer and the seller in wanting to consummate a deal, which really helped to foster a good price for the property,” Tao says.

Tao declined to name the seller, citing confidentiality agreements, but published reports and industry sources list the seller as Namco Capital Group, a Los Angeles-based investment firm. The buyer was represented by vice presidents Clark and William Everitt of IREA along with associate James Bekker. The new owner is a Southern California-based private investor who specializes in hospitality properties.

The hotel was built in 1973 and for many years was a Holiday Inn before its name was changed to Hotel Angeleno when it was completely renovated and remodeled in 2006. It is managed by San Francisco-based Joie de Vivre, which manages boutique hotels, restaurants and spas throughout California.

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