Dealmaker: Mesa West Capital Originates $55M to Refinance Los Angeles Hotel

(Image courtesy of Mesa West Capital)

Mesa West Capital, Los Angeles, originated $55 million in first mortgage debt to refinance a luxury hotel in West Los Angeles.

Eastdil Secured, Santa Monica, Calif., arranged the financing.

The funds were provided to an affiliate entity of Seaview Investors.

The refinancing provides the sponsor, a privately held hotel investment firm based in Newport Beach, Calif., time to continue driving operating performance under the new brand and to compete with other luxury hotels in the Beverly Hills market, according to Joshua Westerberg, who heads Mesa West’s West Coast Origination team out of the private lender’s San Francisco office.

The five-year, nonrecourse financing is secured by the Burton House Beverly Hills. Seaview has been an investment partner in the hotel since 2003 and recently completed a transformative $13.7 million renovation as part of a repositioning under the Tribute Portfolio Hotels and Resorts brand.

It currently offers 186 rooms, dining and a number of amenities for guests.