Hyatt Nue Hollywood Receives $ 27 Million Loan

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Visualization of the Hyatt Hotel Nue at 1525 N. Cahuenga Blvd.  in Hollywood.

Visualization of the Hyatt Hotel Nue at 1525 N. Cahuenga Blvd. in Hollywood.

Columbia Pacific Advisors has provided a $ 27 million completion loan to owners of the Hyatt Hotel Nue in Hollywood.

The hotel is under construction at 1525 N. Cahuenga Blvd. and is owned by S3D Partners.

“We are delighted to have closed our funding with Columbia Pacific Advisors. Despite the challenges posed by COVID, the Columbia Pacific team recognized the unique opportunity this project presents and worked tirelessly with our team to close this loan. We look forward to embarking on this journey together and are thrilled to unveil this high quality contemporary boutique hotel in Hollywood later this year, ”said Jayesh Kumar, CEO of S3D Partners.

Upon completion, the hotel will have 64 rooms, a lobby and restaurant on the ground floor, a rooftop bar, lounge, pool and underground parking.

It will be part of the Hyatt Unbound collection.

“Luxury boutique hotels, focused primarily on leisure-oriented markets, have generally done well and are expected to recover earlier than hotels that rely more on convention or group revenues,” – Eric Jordan, Senior Vice President on real estate lending at Columbia Pacific Advisors, it said in a statement.

“As cities are returning to normal and travelers planning to live on the road must live on the road again, Hyatt Hotel Nue should capitalize on these trends as it is geared towards tourists and locals alike and is slated to reopen at the end of the year.” – he added. …

S3D Partners is a family business. He owns or has interests in 12 other hotels in California and Texas.

Despite the pandemic, the Hyatt Hotel Nue is not the only hotel under construction this year.

Earlier this year, the Pendry complex of hotels and condominiums opened on the grounds of the former House of Blues on the Sunset Strip.

Further west, the new Hilton Santa Monica opened earlier this year. The hotel, which has 286 rooms, including 211 suites, was formerly a Double Tree with 253 rooms.

Hilton broke down several presidential suites and relocated the hallway to create additional rooms.

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