LOS ANGELES, Aug. 25, 2020 /PRNewswire/ — Hodges Ward Elliott („HWE“), the premier boutique real estate capital markets advisor, announced it represented a buyer group comprised of BLVD Hospitality, along with Global Mutual and ESI, in the acquisition of The Georgian, a legendary boutique hotel located in Santa Monica, California along the city’s renowned Ocean Avenue.
An HWE team composed of Tony Malk, Managing Director, Brett Katz, Managing Director, Diana Simpson, Director and Jordan Kirkbride, Vice President advised the buyer on the acquisition and capitalization for the hotel. The acquisition was finalized in an off-market deal between BLVD and the previous owners of the hotel, who have held the property since 1991.
Built in 1933, the world-famous Georgian hotel is known as Santa Monica’s „First Lady“ and is widely recognized for its distinctive turquoise color and famous period revival Art Deco design. The iconic hotel is located above the Santa Monica Pier and serves as one of Los Angeles County’s remaining nostalgic vestiges of Old Hollywood.
On the transaction, Tony Malk says, „This was truly a generational investment opportunity that was sourced and closed due to the established presence and connectivity that BLVD has in the Los Angeles market. Global Mutual and ESI were able to move with exceptional speed alongside BLVD to take advantage of a unique moment in the hotel capital markets.“
The Georgian features 84 guest rooms and suites, ocean view dining at the hotel’s on-site Veranda Restaurant, and premier event space, in addition to a 24-hour business center and fitness room.
About Hodges Ward Elliott:
Hodges Ward Elliott („HWE“) is the premier boutique real estate capital markets advisor, empowered to deliver exceptional results across a broad spectrum of business lines and product types. HWE’s multi-disciplined platform includes commercial, hotel and debt capital markets teams, with offices in Atlanta, Chicago, Dallas, Los Angeles, New York, Miami, Washington D.C., and London. As a privately held company, HWE is dedicated to cultivating long-term client relationships and takes pride in the reputation and track record established over its 45-year history. HWE has closed over $70 billion of transactions, including more than $26 billion over the past 5 years.
For more information, please visit https://hodgeswardelliott.com/.
ABOUT BLVD
Founded by Jon Blanchard and Nicolo Rusconi, BLVD is a full-service real estate and hotel investment and development company focusing on the practical imagineering of hospitality and the revitalization of underserved and overlooked markets across the country. Placing hospitality at the foundation of every development, BLVD Hospitality believes that any development across any use can be programmed, designed, and built in a way that elicits warmth, passion, and inspiration. With nearly $500M in developed real estate, BLVD has made a lasting impact on the communities where it has focused its efforts. BLVD’s lifestyle experience in Los Angeles includes the adaptive re-use development of the Ace Hotel and Soho Warehouse and the current modular construction of the CitizenM hotel in downtown Los Angeles. In addition to BLVD’s lifestyle hospitality portfolio, co-founders Jon and Nico are also co-founders of the fast-growing fast casual restaurant brand, Chicas Tacos.
For more information, please visit www.blvdhospitality.com.
ABOUT GLOBAL MUTUAL
Global Mutual is a fully integrated London and Los Angeles based property investment and management platform with over £1.5 billion in assets under management. Founded in 2009, Global Mutual has completed the purchase and sale of over £2 billion of assets throughout the US, UK and Europe and currently operates over £1.5 billion in assets under management. Global Mutual targets opportunistic transactions across the US, UK and Europe through a series of dedicated strategies. Our mission is to build a diversified value based property portfolio by providing liquidity to capital constrained situations and investment cycles.
For more information, please visit https://www.globalmutual.com.
ABOUT ESI VENTURES
ESI Ventures („ESIV“) is a diversified and opportunistic CRE investment firm that focuses on the acquisition, development, and repositioning of value-add and adaptive-reuse projects through a variety of positions in the capital stack. Since inception, ESIV has transacted on $1B + (fully capitalized) of deals across multiple property types and geographies – approximately $500MM (fully capitalized) of which have come in the past five years. ESI Ventures is headquartered in Beverly Hills, CA and is the sister company to ESI Enterprises.
For more information, please visit www.esiventures.com.
Contact: Great Ink – 212-741-2977, Tom Nolan ([email protected])
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