Relevant Group scores $63M to build Thompson Hotel

The 190-key property will be part of the firm's growing hotel collection in Hollywood

Los Angeles /
Feb.February 13, 2019 08:00 AM
Larry Grantham, co-founder & senior portfolio manager of Calmwater Capital, and a rendering of the Thompson Hotel (Credit: Relevant Group)

UPDATED, Feb. 13, 2019, 11:38 a.m.:  Development firm Relevant Group has secured a $63 million construction loan to build the boutique Thompson Hotel in Hollywood, expanding its collection of hotels in the neighborhood.

Calmwater Capital provided the financing, it said in a release. Plans call for 190 rooms and 188,390 square feet of space on a half-acre site at 1541 Wilcox Avenue. The hotel will include a rooftop pool and restaurant, a fitness center and 3,000 square feet of meeting space. The Thompson Hotel will be managed by Two Roads Hospitality.

The financing is Calmwater’s second partnership with Hollywood-based Relevant Group, after having provided $34 million for the addition of TAO Restaurant and other amenities at Relevant’s nearby 178-key Dream Hotel.

Also in that neighborhood, Relevant has plans to build the 114-key Selma Hotel on Wilcox Avenue, along with the Tommie Hotel, an eight-story micro hotel that is planned for 2020.

Relevant has recently proposed transforming the landmark Citizen News building at 1545-1551 Wilcox Avenue into a restaurant and event space. And last year, it filed plans to redevelop the 104-year-old Morrison Hotel in South Park.

Correction: An earlier version of the story reported a higher sales price for the loan, which was misreported by a communications firm working for Relevant Group.


Related Articles

arrow_forward_ios
Simon and David Reuben, DigitalBridge's Marc Ganzi and Century Plaza in Century City (Getty, Ganzi by Sonya Revell, Minnaert, CC BY-SA 3.0, via Wikimedia Commons)
Reuben Brothers delay foreclosure on Century Plaza
Reuben Brothers delay foreclosure on Century Plaza
Oceanwide's Liu Guosheng with  Oceanwide Plaza (Getty, Oceanwide)
Chinese developer finds buyer for unfinished Oceanwide Plaza project
Chinese developer finds buyer for unfinished Oceanwide Plaza project
8747 Parthenia Place in North Hills (Google Maps, Getty)
Parthenia Partners to build 55 apartments in North Hills
Parthenia Partners to build 55 apartments in North Hills
A photo illustration of Harridge Development Group CEO David Schwartzman and Highpark development in Palos Verdes (Getty, Harridge Development Group)
Harridge suit alleges unpaid work at Highpark project
Harridge suit alleges unpaid work at Highpark project
Ruixue “Serena” Shi and City of Coachella (Getty)
Developer sentenced to 20 years in prison for Coachella hotel scheme
Developer sentenced to 20 years in prison for Coachella hotel scheme
Diane Shammas and rendering of proposed Ford dealership (Pitzer College, Felix Chevrolet, Getty)
Shammas family plans New Ford dealership in DTLA
Shammas family plans New Ford dealership in DTLA
Octane Group’s Greg McLemore and the Arista Glendale building (Greg McLemore, Arista Glendale)
Luxe rentals ramp up in suburban Glendale
Luxe rentals ramp up in suburban Glendale
Councilman Jose Huizar (Charlie Kaijo/CC BY 2.0/via Wikimedia Commons, Getty)
Developer found guilty in LA City Hall bribery scheme
Developer found guilty in LA City Hall bribery scheme
arrow_forward_ios

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

Loading...