Developer Izek Shomof buys Inglewood hotel for $18M

The property sits near the under-construction Los Angeles Stadium
at Hollywood Park

TRD LOS ANGELES /
Oct.October 27, 2017 09:00 AM
Izek Shomof with Airport Park View Hotel at 3900 W Century Boulevard in Inglewood (Credit: Google Maps, Getty Images)

The stadium hasn’t even been built yet, but Izek Shomof may have scored a touchdown across the street.

Downtown developer Izek Shomof dropped $18 million for the worn-down Airport Park View Hotel at 3900 W. Century Boulevard in Inglewood, The Real Deal has learned.

The sellers of the 61,400-square-foot hotel are listed as Kuok Cheong Wong, Thomas K. L. Wong, and Kuok Su Wong. The entity first acquired the property in July 2001 for $400,000, records show.

Shomof intends to completely renovate the property — while maintaining the bones — and re-do the pool, common area, lobby, corridor and rooms. The developer said he is still negotiating with a few hoteliers to see who will operate the 180 rooms.

“We are going to bring it up to today’s code and up to today’s style,” Shomof said. “It is going to be one of the nicest projects in the whole area.”

Ramtin Rafiee of BRC Advisors Commercial Real Estate brokered the sale.

Built in 1961, the hotel and motel once operated 175 rooms across three stories. Marketing materials from 2016 suggested a “great renovation opportunity in a desirable location in the midst of a major transformation.”

That transformation in question is the 70,240-seat stadium Stan Kroenke and Stockbridge Capital are building across the street, soon to be the home of the Los Angeles Rams. A 6,000-seat performing arts venue, a 120,000-square-foot casino and 620,000 square feet of retail are planned for the site. Construction is slated for completion in 2020.

Izek Shomof, head of Pacific Investment Group, is no stranger to repurposing dilapidated sites. Just this march, the Israeli developer unveiled his plans to transform the earthquake-ravished Panorama Tower on Van Nuys Boulevard into a live-work complex with ground-floor retail. In September 2016, he filed plans for a 122-unit, mixed use complex at 211 West Alpine Street in Chinatown. Other projects include the revitalization of the Boyle Heights Sears building and the Premiere Towers in the Historic Core.


Related Article

arrow_forward_ios
From left: KB Homes CEO Jeffrey Mezger and Harridge Development Group CEO David Schwartman

KB Homes nabs big condo development site in booming Inglewood

Steve Ballmer and a rendering of the new Clippers Arena (Credit: Getty Images, Los Angeles Clippers, and Twitter)

Steve Ballmer pledges $75M for affordable housing in Inglewood amid Clippers stadium controversy

SoFi CEO Anthony Noto and a rendering of SoFi Stadium

SoFi, so good: Inglewood NFL stadium naming rights deal set, along with project completion date

Aerial view of 611 N. Brand Boulevard and Rossano de Cottiis (Credit: Hunter Kerhart Architectural Photography)

Onni scraps apartment plans for 857-key hotel project in Glendale

A rendering of the proposed hotel project on Whitley Street (Credit: Daryoush Safai)

Reservations: Hollywood hotel project faces appeal from rent control tenants

Clippers owner Steve Ballmer, Kawhi Leonard and a rendering of the Clippers Arena Inglewood project (Credit: Getty Images, NBA)

The house that Kawhi built: A look at the Clippers proposed arena

Atlas Hospitality Group president Alan X. Reay and Downtown Los Angeles, with construction development rising above the L.A. Convention Center at the right (Credit: Wikimedia)

Keyed up: LA’s hotel development outpacing the rest of California

Architect Michael Kollin and the planned Lasky Hotel

This boutique hotel will replace Maison 140 in Beverly Hills

arrow_forward_ios