Sofitel in Beverly Hills changes hands

GEM Realty, private family investors sells ground and leasehold interest in 295-key hotel

Los Angeles /
Oct.October 13, 2021 01:47 PM
Sofitel Beverly Hills at 8555 Beverly Blvd (Sofitel Los Angeles)
Sofitel Beverly Hills at 8555 Beverly Blvd (Sofitel Los Angeles)

The Sofitel in Beverly Hills has a new owner.

The 295-key hotel at 8555 Beverly Blvd. was sold to an unnamed Beverly Hills-based real estate firm, according to an announcement from law firm Sklar Kirsh, which worked on the sale. Terms were not disclosed, but San Francisco-based TPG RE Finance Trust, TPG’s real estate debt platform, provided financing for the deal.

Chicago-based GEM Realty has owned the leasehold interest in the property since 2007, records show. The firm acquired the interest from French hotel management firm Accor, which still manages the property. GEM Realty did not respond to a request for comment.

A family trust linked to Marcia Schwartz and a limited liability company linked to Jeffrey Mirkin own the ground of the property, according to property records.

Both the ground and the leasehold interest were sold to the same buyer, which is planning to make extensive renovations to the property, Sklar Kirsh’s Andrew Kirsh said.

In August, GEM Realty filed a notice of sale, transferring its retail liquor license for the Sofitel Beverly Hills to an LLC linked to Alon Abady, a managing partner at Waterfall Bridge Capital in Beverly Hills.

A number of large hotels in Los Angeles have changed hands this year, including the 580-key Hyatt Regency at LAX and the 175-key Le Merigot hotel in Santa Monica, which each sold for $75 million.

The Standard Hotel in West Hollywood was recently put up for sale by its owner Rittersbacher Sunset LLC.





    Related Articles

    arrow_forward_ios
    Kingsbarn's Jeff Pori and Cruzan’s Dennis Cruzan and with 23332 Mill Creek Drive (Kingsbarn Real Estate Capital, Cruzan, LoopeNet)
    Cruzan sells Laguna Hills office complex to Kingsbarn
    Cruzan sells Laguna Hills office complex to Kingsbarn
    Richard Ehrlich (Richard Ehrlich, Getty)
    Resi agent Richard Ehrlich, a WEA partner, joins Carolwood
    Resi agent Richard Ehrlich, a WEA partner, joins Carolwood
    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
    California Housing
    California dominates list of country’s priciest zip codes
    California dominates list of country’s priciest zip codes
    Newmark's Kevin Shannon, Marcus & Millichap's Jordan Asheghian and Tony Azzi, Stepp Commercial's Travis Traweek and Waterford's John Drachman (Newmark, Marcus & Millichap, Stepp Commercial, Waterford Property Company)
    Brokers tell clients to sell before transfer tax deadline
    Brokers tell clients to sell before transfer tax deadline
    Harbor Group International's Jordan Slone and Principal Financial Group's Daniel Joseph Houston with 3150 Wilshire Boulevard (Harbor Group International, LinkedIn, Google Maps)
    Principal Financial sells Koreatown apartments at a loss
    Principal Financial sells Koreatown apartments at a loss
    WEA's Kurt Rappaport and Stephen Shapiro with rendering of 460 North Canon Drive (Westside Estate Agency)
    Kurt Rappaport moves his shop to new HQ in Beverly Hills
    Kurt Rappaport moves his shop to new HQ in Beverly Hills
    Joel Schreiber and KBS Realty Advisors' Charles Schreiber with 445 South Figueroa Street (Shir Stein, LinkedIn, Union Bank Plaza, Getty)
    KBS sees “no assurance” Joel Schreiber will close Union Bank Plaza purchase
    KBS sees “no assurance” Joel Schreiber will close Union Bank Plaza purchase
    arrow_forward_ios

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

    Loading...