The partners advised the developers, investors and managers of the Montage Beverly Hills on the structuring and placement of a non-recourse $225 million construction loan for this landmark mixed-use development located in the heart of the Beverly Hills Golden Triangle. The loan structure was complicated by the fact that the client and management company were related parties and that this development represented only the second Montage property to be built. The partners placed the loan at below-market pricing with a German lender attracted to the strong sponsorship, experienced development credentials and irreplaceable location.
After convincing the City of Beverly Hills to contribute land to their assemblage and a long and arduous entitlement process, the developers built a 201-key luxury hotel in striking Spanish Colonial Revival design that includes two restaurants, several boutique retail spaces, an extensive spa, and 75,000 square feet of space on the upper floors and penthouse for up to 24 residences. The developers were also responsible for constructing a city-owned retail building and a public park atop a common underground parking facility sufficient in size to provide extensive public parking in support of local businesses.
|Beverly Hills Luxury Hotel, LLC|
201, plus 24 residences