ROBERTDOUGLAS ADVISES OWNERS IN REFINANCING OF LEGENDARY BEVERLY HILTON HOTEL
RobertDouglas announced today that it advised the ownership, Oasis West Realty, LLC, in the recently-completed $225 million re-financing of the landmark hotel.
The 569-room Beverly Hilton, built on an 8.9 acre of prime Beverly Hills real estate, is located at the intersection of Wilshire and Santa Monica boulevards. The property was built by Conrad Hilton and opened in 1955 - since having hosted such notables as Presidents John F. Kennedy, Bill Clinton, and Barack Obama.
“We are delighted to have been able to assist the owners with this refinancing, ultimately completed with Goldman Sachs and Aareal Bank,” said Robert Stiles, a partner at RobertDouglas, who personally advised on the previous four financings of the property. “It is an iconic property with the most valuable entitlement rights on the west coast for both luxury condominium towers and an additional luxury hotel,” notes Stephen O’Connor, RobertDouglas’s Los Angeles based partner.
RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles and San Francisco that specializes in the sale, financing and equity capitalization of hotel, resort and gaming properties throughout North America. Founded by two of the hotel industry’s pre-eminent finance professionals, Rob Stiles and Doug Hercher, RobertDouglas offers exceptional domestic and international institutional investor and lender relationships. RobertDouglas combines the capital markets sophistication of top-tier investment banks with detailed hotel underwriting and asset management experience, providing the firm with unique capabilities in an underserved market. For more information, contact info@robert-douglas.com or go to www.robert-douglas.com.