Meet the online domain titan picking up distressed downtown properties in SoCal
Who would want the Montrose, a West Hollywood hotel just steps from Sunset Strip? Pebblebrook Hotel Trust was sort of shopping the 133-all-suite hotel, but after tourism fell off a cliff, revenues flatlined and costs skyrocketed, wildfires tore through parts of Los Angeles, federal agents launched immigration raids, Angelenos flooded the streets in protest and the National Guard arrived, the appeal was not obvious. The real estate investment trust’s chief executive and chairman, Jon Bortz, had told shareholders that the company would be selling hotels and buying back its stock; he once mentioned to The Real Deal that he wouldn’t […]This article originally appeared on The Real Deal. Click here to read the full story.
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