James Hotel brand backs out of Sunset Strip deal in WeHo

Barry Sternlicht’s Starwood Capital is in talks to buy the 10-story property

TRD LOS ANGELES /
Jun.June 16, 2017 09:30 AM
West Hollywood hotel development Sunset La Cienega James Hotel
Renderings of CIM Group’s Sunset | La Cienega project

It’s official: The James Hotel, which had been slated to open at CIM Group’s Sunset | LaCienega project last month, is not opening after all.

In a message on the James Hotel’s website, officials said that they would no longer be launching a hotel in L.A. 

“While all of us at The James continue to maintain our commitment to community, personal wellness, art and design, we will not be introducing the James Hotel to Los Angeles at this time,” said the message, which has since been deleted. The message was first spotted by Curbed.

While there’s no word so far on the reason for the change of plan, The Real Deal reported in April that Barry Sternlicht’s Starwood Capital was in negotiations to buy the 286-key hotel for about $280 million, or $975,000 per key. The property at 8490 Sunset Boulevard spans 235,000 square feet.

Sources with knowledge of the deal told TRD that Sternlicht might convert the property into a 1 Hotel, rather than sticking with the James brand. [Curbed]Cathaleen Chen


Related Articles

arrow_forward_ios
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left: Michael Shabani, James Randall, and 8840 Beverly Boulevard (Credit: Getty Images)

Investor James Randall pays $36M for WeHo furniture showroom

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

arrow_forward_ios
Loading...