DKN Hotels plans 158-key project in Encino, adding to LA portfolio

The company would demolish the existing hotel, adding twice as many rooms

Los Angeles /
May.May 16, 2018 03:00 PM
The Sherman Hotel at 15485 W. Ventura Boulevard

The Sherman Hotel’s days are numbered. The aging Encino motel, built in 1959, will be demolished as its Irvine-based owner makes plans for a project twice its size.

DKN Hotels filed plans with the City of Los Angeles to raze the 70-key Sherman at 15485 W. Ventura Boulevard and built a 158-key hotel.

DKN bought the property in April 2016 from New York-based Republic Investment Company for $11.4 million, with a $7.4 million mortgage from Preferred Bank.

The Sherman Hotel sits on just under an acre near the Interstate 405 and Route 101 interchange. It was renovated in 2005.

DKN owns a dozen other hotel properties in California, including three other in the L.A. area.

DKN could not comment on its plans for the property, but there’s a good chance it could redevelop the site with a franchise name attached. A number of its existing hotels are franchised, including a Holiday Inn Express in West L.A. and a DoubleTree by Hilton in San Bernardino. The firm faces competition from the recognizable Courtyard by Marriot less than a block away on Ventura Boulevard. [Urbanize] — Dennis Lynch 


Related Articles

arrow_forward_ios
Initiative to decide whether LA hotels should house the homeless
Voters to decide whether LA hotels should house the homeless
Voters to decide whether LA hotels should house the homeless
Midwood CEO John Usdan  and a rendering of  Sportsmen’s Lodge hotel (Midwood, Kilograph)
Sportsmen’s Lodge Hotel redevelopment catches environmental endorsement
Sportsmen’s Lodge Hotel redevelopment catches environmental endorsement
Long Beach (Illustration by The Real Deal with Getty)
Downtown Long Beach office vacancy highest in 20 years
Downtown Long Beach office vacancy highest in 20 years
Jamison Properties' Jaime Lee with the Pierce National Life Building (LinkedIn, Google maps)
Koreatown office building poised for residential conversion
Koreatown office building poised for residential conversion
The Home Depot's Ted Decker with 16830 Devonshire St
Home Depot plans to build 136K sf store in Granada Hills
Home Depot plans to build 136K sf store in Granada Hills
SteelWave's Barry DiRaimondo with 1382 Bell Avenue (LinkedIn, JLL)
SteelWave sells Tustin office building for $91M
SteelWave sells Tustin office building for $91M
Duke Realty's James Connor (Duke Realty, Getty, Google Maps)
Duke Realty shells out nearly $100M for empty land in the Inland Empire
Duke Realty shells out nearly $100M for empty land in the Inland Empire
Restaurant owner Tony Roman and Basilico’s Pasta E Vino, 21501 Brookhurst Street in Huntington Beach (Basilico’s Pasta E Vino/Facebook, Google Maps, Getty)
Anti-mask restaurateur in OC sues landlord
Anti-mask restaurateur in OC sues landlord
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...