S3D scores loan to build Hotel Nue Hollywood Hyatt
Developer eyes opening later this year as LA hotel projects pick up
S3D Partners has secured $27 million in construction financing to build Hyatt Hotel Nue in Hollywood, four years after a different developer proposed the project.
Columbia Pacific Advisors provided the bridge loan on the 64-key development, which will rise at 1525 N. Cahuenga Boulevard, according to the Los Angeles Business Journal.
S3D is eyeing opening the hotel later this year — part of Hyatt’s Unbound Collection — and the property will include a pool, rooftop bar, and restaurant.
PNK Group Investments originally proposed the project in 2014, and it secured city approval three years later.
Hotel investment and development has accelerated in the last few months after pumping the brakes in 2020. Among those, Relevant Group in April scored $72 million in financing to complete construction on its 212-key Tommie and 190-key Thompson hotels in Hollywood.
Los-Angeles based S3D — a family business led by Jayesh Kumar — owns or holds interest in 12 other hotels across California and Texas, according to the report.
[LABJ] — Isabella Farr