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.
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