December 10, 2018 Comments Off on Financing Arranged for DTLA Adaptive Reuse Hotel Development  Views: 2370 California News, Los Angeles

Financing Arranged for DTLA Adaptive Reuse Hotel Development 

Oceans V plans to redevelop and reposition a vacant office building in Downtown Los Angeles into the Cambria Hotel and Suites, a 180-room, full-service hotel. The developer secured $50.9 million in construction financing that was arranged by HFF through Mosaic Real Estate Investors.

Cambria Hotel and Suites will be redeveloped from a 14-story office building originally built in 1928 at 419 South Spring St. The construction will preserve the building’s distinguished and architecturally-significant facades. The hotel will feature a restaurant, 2,455 square feet of meeting and event space, fitness center and unobstructed views of the DTLA skyline from upper floors.

HFF’s debt placement team consisted of Matthew Stewart and Blake Malecha.

Stewart says, “This project is on one of the best corners in downtown Los Angeles, and will be an amazing addition to downtown Los Angeles’s Historic Core. It’s a truly transformative project.”

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