Berkadia announced the receivership sale of a 70-key boutique Hollywood hotel in Los Angeles, California. Senior Managing Director Scott Hall and Senior Director Aaron Lapping of Berkadia Hotels & Hospitality, along with Senior Managing Director – Head of Special Situations Kyle Stevenson, led the transaction.
Located at 6500 Selma Ave, the property offers panoramic views from its spacious rooftop, which was previously a staple in the local celebrated food and beverage scene. Situated at the epicenter of Hollywood’s entertainment district, the hotel is surrounded by upscale dining, nightlife, luxury retail, and performing arts venues.
“The asset’s irreplaceable location and incredible physical attributes contributed to significant investor interest from national and regional hotel investors, plus local private and unique capital sources,” Hall said in a statement. “Meaningful business plan optionality and a receiver-driven sale garnered broad market interest and drove a highly competitive process,” added Lapping.
