Dealmaker: Newmark Lines Up $230M to Refinance Edition West Hollywood Hotel

Newmark, New York, arranged $230 million to refinance the Edition West Hollywood hotel on Sunset Boulevard in Los Angeles.

Edition West Hollywood [Nikolas Koenig]

J.P. Morgan and Mack Real Estate Credit Strategies, both headquartered in New York, provided the financing to sponsor The Witkoff Group, a privately held real estate development and investment firm headquartered in Miami.

The 190-key, Marriott-flagged Class A hotel at 9040 Sunset Boulevard debuted in 2019, along with The Residences at the Edition West Hollywood, which includes 20 residential condominium units.

Newmark Co-Heads of Debt & Structured Finance Dustin Stolly and Jordan Roeschlaub led the debt-placement team along with Senior Managing Director Nick Scribani and Associate Dan Morin.

“Lenders and investors alike are fighting to deploy their capital in top-tier, leisure-focused lodging assets, which are positioned to capture an outsized share of the pent-up travel and local demand,” Stolly said.