LOS ANGELES—On behalf of The Witkoff Group and New Valley LLC, JLL has secured $260 million in construction financing for West Hollywood Edition Hotel & Residences, marking the brand’s first presence on the West Coast. Cornerstone Real Estate Advisors provided the loan.
Managing Director Dustin Stolly and SVPs Samantha Fisher, Mike Huth and Brett Rosenberg led the JLL team on the transaction.
Fisher stated, “Given its programming, brand affiliation and prime location at Sunset and Doheny, this project is uniquely positioned within the West Hollywood and Beverly Hills submarkets, which are both experiencing strong RevPAR growth driven by extremely favorable supply and demand fundamentals.”
West Hollywood Edition Hotel & Residences will total 486,743 sq. ft., with 190 keys and 20 Edition-branded luxury condominium units. Upon completion, amenities will include a restaurant, bar, two rooftop pools and nightlife venues.