July 12, 2016 Comments Off on Century Plaza Hotel Secures $1B Redev Capital Views: 469 California, California News, Los Angeles, West

Century Plaza Hotel Secures $1B Redev Capital

Next Century Partners, LLC. secured $1-billion in financing to redevelop the Century Plaza Hotel. Construction financing was led by a consortium that included a $446-million senior loan from J.P. Morgan Chase, $120-million mezzanine financing from an investment vehicle managed by Colony Capital, and $450 million of EB-5 financing provided by CMB Export LLC Regional Center.

Construction is expected to kick off later this summer on a $2.5-billion mixed-use development. The project includes two 46-story luxury residential towers, restaurants, retail shops and a new 5-star 400-room hotel and residences.

Next Century Partners, LLC. was formed by Michael Rosenfeld, founder and CEO of Los Angeles-based Woodridge Capital Partners, LLC.

Read More at Century Plaza Hotel

Connect with Woodridge Capital Partners’ Rosenfeld

For comments, questions or concerns, please contact Dennis Kaiser

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , ,

Comments are closed.