July 31, 2017
Los Angeles-based CIM Group sold the recently-completed, 286-key hotel developed as part of its roughly 500,000-square-foot, mixed-use Sunset La Cienega project in West Hollywood, CA. Starwood Capital Group acquired The Jeremy West Hollywood hotel property for an undisclosed amount.
The hotel includes two 10-story towers at Sunset and La Cienega Boulevards on the Sunset Strip. The property is set to open in August as The Jeremy Hotel. Over the course of the next year, the property will be transformed into the 1 West Hollywood. It will become the fourth property in the award-winning eco conscious, luxury sustainable brand created by the Greenwich, CT-based alternative investment firm.
The property features 50 suites, including two Penthouse Suites, a pool, fitness center, two large conference rooms and 10,000 square feet of meeting and event space, as well as a rooftop bar and lounge, a café, restaurant and lobby bar.