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
Los Angeles Planning Commission approves Hollywood zoning changes. (iStock)
Planning Commission OK’s changes to Hollywood zoning, land use
Planning Commission OK’s changes to Hollywood zoning, land use
The rail project had its genesis in the late 1990s but has faced numerous delays. (iStock, Getty)
Land purchases could delay high-speed rail 2 years: contractor
Land purchases could delay high-speed rail 2 years: contractor
Palari Group CEO Basil Starr and Mighty Buildings CEO Slava Solonitsyn with renderings of the project (Palari)
Developers tout 3D-printed houses in Coachella Valley as “zero net energy”
Developers tout 3D-printed houses in Coachella Valley as “zero net energy”
Rendering of Figueroa Centre (right) with an aerial view of the vacant site at 911-927 South Figueroa Street (Google Maps, CallisonRTKL/Illustration by Kevin Rebong for The Real Deal)
A Genting scion’s plans for a DTLA supertall were quietly shelved. What happened?
A Genting scion’s plans for a DTLA supertall were quietly shelved. What happened?
Sheraton Pasadena and the Queen Mary (iStock)
Embattled REIT seeks to auction SoCal hotels, Queen Mary lease
Embattled REIT seeks to auction SoCal hotels, Queen Mary lease
Related Fund Mangement’s Managing Principal Justin E. Metz and a rendering of Cross Creek Ranch. (Jay Luchs, Related)
Malibu’s largest commercial project nabs $130M construction loan
Malibu’s largest commercial project nabs $130M construction loan
Rescore Property Corp. Managing Principal Arthur Falcone and a rendering of the project (iStock)
Hollywood apartment development lines up $138M loan
Hollywood apartment development lines up $138M loan
Neil Shekhter (Shekhter by Kevin Scanlon; iStock)
Santa Monica mega-portfolio officially hits market
Santa Monica mega-portfolio officially hits market
arrow_forward_ios

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

Loading...